Pawnbrokers offer a simple solution to what could be a huge problem for many people, and that is, lack of money. You may have many expensive items like a Rolex watch or gold jewellery but very little cash. In such instances, if you turn to a pawnbroker, you can get a pawn loan and raise some instant money to spend by keeping something valuable as collateral.
Undoubtedly, a pawnbroker loan is much easier to achieve than any other traditional loan types. You can pawn your gold or get a loan against luxury watches instantly without any hassle.
Pawnbroking is an age-old custom that also prevailed during the Ancient Greek and Roman Empires. However, this practice turned up in the 1950s in England with the Conqueror William. And interestingly, many paupers and kings utilised it for raising money at essential times.
Over the years, pawnbrokers have worked to make the process more convenient. And today, a pawnbroker loan is considered as ideally the best option to get access to fast cash and meet short-term financial needs.
So what are the benefits of a pawn loan? Continue reading to explore the significant advantages that a pawnbroker loan offers to customers who want to raise instant cash.
Speed of a Pawn Loan
People can face short-term financial needs at any point in time all of a sudden. In the event you knew that additional money would be needed, you would have planned everything. There would have been the time for putting things into the right place so that you can arrange a bank or any financial institution loan in advance.
Now, the fact is –
It takes time to arrange or get approval of a bank or any other conventional loan. Most of these involve ample documentation, agreements, and credit checks before your loan is approved.
And if you need to raise cash quickly, you lack that time.
In such instances, the best thing for you to do is to turn to a pawnbroker and get your hands on instant cash against gold, luxury watches, or anything valuable you own.
Your pawnbroker will lend you money instantly only based on the value of the item you used as collateral. Simply, bring in your asset and get your cash within minutes without any credit checks.
Convenient & Hassle-free
Are you looking to raise instant cash? Do you own a luxury watch or gold? If yes, then simply take advantage of the services offered by trustworthy pawnbrokers in London or any other big cities.
Get a loan against Rolex watch or loan against gold and secure some fast cash to meet your short-term monetary needs.
When you send or bring in your asset to the pawnbrokers, he/she will evaluate its value precisely and determine its accurate price, considering many essential aspects like its condition, age, brand, current market price, and others.
Your pawnbroker will make you a cash loan offer immediately. If you accept it, sign your pledge receipt and get your cash in hand right away without any obligation. The entire pawnbroking process may take as little as a few hours to complete.
Flexibility in repayments
It is essential to understand the flexibility that a pawnbroking loan offers. The maximum tenure of a pawn loan is usually six to seven months. However, you can retrieve your collateral anytime during the contractual period by paying off the original loan amount along with interest due. There are no early redemption charges.
On the contrary, if you fail to redeem your item after your loan term ends, your pawnbroker may help you to renew your loan, getting you a new contract. Thus, a pawnbroker loan provides real convenience.
If you are wondering, ‘where can I pawn my watch’ or where can you pawn your gold, get in touch with the trusted pawnbrokers in London at The Luxury Hut.
You can call on 0207 242 5411 to get an instant appraisal over the phone or to book an appointment at our Hatton Garden office in London. Visit our premises with your asset that you want to pawn and get a competitive cash loan offer immediately.
Alternatively, you can begin the process of pawning gold or watches by filling up our online form. We will contact you shortly with a free loan quote via phone or email.