You can’t walk down the street, turn on the television or open up a webpage without knowing it’s World Cup time.
And some are turning the heightened focus on the Brazilian extravaganza to their advantage by using valuable football memorabilia to help them borrow money.
Fanatics who’ve got their hands on football-related collectibles are turning to guarantor loan provider Borro to use their cherished items as collateral against a short-term loan. Among the items put up against the loans include:
Gents Hublot King Power Big Bang Maradona II watch
Value of loan taken out: £6,000
Wristwatch of God: Argentina legend Diego Maradona put his name to this special edition Hublot watch.
This limited edition by Swiss luxury watchmaker Hublot can be worth as much as £20,000 as it comes with an endorsement of one of the greatest footballers of all time – Argentinian legend Diego Maradona.
He may be unpopular in England after his Hand of God sent Bobby Robson’s men crashing out of the 1986 World Cup, but his famous name commands value in the memorabilia world.
This watch comes in Argentinian colours and a printed signature of Maradona and his player number.
The watch was put up against a £6,000 loan to keep the owner going while they waited for a lump sum of money they were due to receive.
Value of loan taken out: £800
Legend: Edison Arantes do Nascimento…Pele to his friends, signed this shirt.
Not just one of the greatest, but widely considered THE greatest footballer of all time, Pele is the only player to have won the World Cup three times – in 1958, 1962 and 1970.
Someone lucky enough to have not one, but two framed classic Brazil shirts signed by Edison Arantes do Nascimento, as he is legally named, used them to get a quick loan of £800 to fund a holiday.
Shirt worn at PFA Awards Dinner by Ryan Giggs
Value of loan taken out: £500
Winner: Ryan Giggs was named PFA Player of the Year in 2009.
He’s the left-winger who left many an England fan wondering what might have been had he not chosen to represent his native Wales at international level.
The Manchester United stalwart, who recently retired from playing to become assistant manager to Louis Van Gaal, is among the ranks of ‘greatest players never to play at a World Cup’.
To make up for it, he has had a fairly exceptional footballing career, becoming the most decorated player in English league history, and winning the PFA Player of the Year award in 2009.
So celebrated is he, someone nabbed the shirt he wore at the dinner.
Collection of 194 football programmes
Value of loan taken: £1,200
Memories: Match-day programmes from London clubs were used to get a £1,200 loan.
Value of loan taken: £1,200
They may not be World Cup-related, but classic match-day programmes from the English football league have a decent collectible value.
A collection of 194 programmes from matches involved London clubs including Tottenham, Arsenal, Fulham and Aldershot was put up against a loan – with the oldest programme dating back to 1921.
The loan of £1,200 was used to pay for new stock for the owner’s online business.
A word of caution
While guarantor lenders like Borro may offer an outlet to people who don’t want to get locked into the lengthy personal loan deals with major banks and building societies, their loans don’t come cheap.
They are typically used as a short-term option among the wealthy who need, for example, a bridging loan between property purchases, or who want to facilitate a business transaction, or carry out improvements on properties that they then sell.
The Pele example above shows that £800 was taken out in order to pay for a holiday – this isn’t an ideal use of these kind of loans.
At a typical APR of 82.2 per cent, Borro is much cheaper than payday lenders, but more expensive than high street lenders and credit card companies.
An £800 loan taken out and paid back after four months would incur £121.53 of interest, which is expensive credit whichever way you take it.
Compare this to one of the top personal loans being offered at 4.2 per cent APR, you could take out £7,500 over a year and only end up paying total interest of £175.83.
Read the full article at This is Money