What is Pawnbroking?
What do I need to bring?
How does it work?
Our charges
How long can I leave my property with you?
If I don’t collect my property from you?
How can I renew my contract?
What if I’ve lost my contract?
What payment do you accept?
What goods do we accept?
Other Services
What is Pawnbroking?
Pawnbroking is essentially taking out a short term loan against your property. We earn our money from the interest that we charge you
on the loan (6% per month.)
It is a quick and easy way of obtaining instant cash without the hassle of lengthy waits, forms to fill out and credit checks
at a bank.
For further information please check the National Pawnbrokers Association website at www.thenpa.com
What do I need to bring?
Two forms of identification, including a driver’s licence, passport or a utility bill.
How does it work?
- Bring your property into our shop for us to assess.
- Our pawnbroker will take you into a private room to look at your property.
- Once you are satisfied with the amount we are able to lend on your goods, we will ask you to sign a contract. We will give you a copy of this contract to keep for your records.
- We will store your property in our high security vault until you redeem it.
- When you choose to collect your property, bring your contract along with the money owed, and once payment has been received we will hand you over your property.
Our charges
We charge a competitive 6% interest per month.
For example, if we lent you £100, the interest on top of the original loan would be as follows:
1 month: £6
2 months: £12
3 months: £18
4 months: £24
5 months: £30
6 months: £36
At the end of the 6 month period, you would owe £136 to collect your property or just £36 to pay off the interest accrued and
renew your contract for another 6 months.
How long can I leave my property with you?
The simple answer to this question is as long as you need to. We have had pledges with us ranging from as little as 20 minutes up to 20 years. The initial contract duration is 6 months. You can collect at anytime within this 6-month period. When the contract is up, you will have the option of paying back the original loan plus interest and redeem your property, or renewing the contract for another 6 months provided that you have paid the interest in full.
If I don’t collect my property from you?
We will send you a reminder letter after 5 months if you have not collected your property or renewed your contract.
Failure to respond to this notice may result in us eventually selling your goods through public auction.
If the proceeds from the sale of your property exceed the amount that was due to us from you, we will pay you back the difference.
How can I renew my contract?
The easiest way to renew your contract is in person. If you are unable to come to our shop, please contact us.
What if I’ve lost my contract?
As soon as you realise that you have lost your contract, please contact us to discuss your options with our pawnbroker.
What payment do you accept?
Our preferred method of payment is cash because it is automatic and means that your loan is paid off or renewed instantly.
We also accept cheques, but please note that it can take around 5 working days for a cheque to clear
We do not accept debit or credit card payments.
We do not accept payment over the phone; you will need to make payment in person.
What goods do we accept?
- Gold (Hallmarked 9ct, 14ct, 18ct, 22ct)
- Silver (fine and antique)
- Watches (Rolex, Cartier, etc) - only with box and papers
- Jewellery
- Diamonds
Other services
If you are looking to sell, bring your property to us and we will make you an offer.If your query is not answered within the above information, please contact us via our Enquiries page, or call us.