Online Pawnbroking: Bank Loan Alternatives
Most of you will agree, you can’t always trust your bank, even if you happen to have been banking with Lloyds, Barclays, HSBC or any other bank, for as long as you can remember. Banks are renowned for overcharging, unfair bonuses to lousy bank bosses and terrible administration, so of course we are going to start searching elsewhere for a bit of help sorting out our finances.
Bank loans can be difficult to get your hands on if you suffer from bad credit and now the banks are so reluctant to lend, there is even less chance of you getting that extra bit of cash to help you get by. Did you know that pawnbrokers, on the other hand, have no interest in what your credit rating is and are happy to lend whatever your financial circumstances may be? All you need is a valid piece of identification to pawn gold jewellery, a valuable antique or even a watch. Your loan amount might even be up to 75% of the value of the item!
You might have the stereotype of pawnbrokers in mind, but a pawnbroker loan is an ideal alternative to getting a bank loan. Having shed their shady, Dickensian image, pawnbrokers like Uncles the Original Pawnbrokers, H and T and borro.com are modern day pawnbrokers that provide a unique, reliable and efficient bespoke service.
The best thing about pawnbroker loans is they’re very, very quick. No waiting around for decisions, no meetings with bank managers, no explanations. Pawnbrokers have no interest in knowing what you intend to use the money for. What you do with your loan is entirely at your discretion, be it to pay off debts, buy an engagement ring or to put down a deposit on a new house or car.
On average, pawnbroker interest rates tend to range between 4-7%. This may seem high, but the loan period is on average 6 months, so interest will amount to very little. If you should fail to repay the loan, you don’t have to worry about skyrocketing interest, you simply lose the item you initially used as security for the loan itself.
Like Uncles the Original Pawnbrokers, a lot of the UK’s biggest pawnbrokers now trade online. Now trading online as unclesmoney.co.uk, companies like family-run business Unclesmoney offer a unique, speedy online loan service that can get your money to you in fewer than 24 hours! Simply type in your item, plus a description and you’ll have estimation in seconds!
If you then decide to take up the loan offer, all you need to do is send off your item for valuation. Most online pawnbrokers will automatically send you a paid for and insured envelope for your item. If you post it quickly, the item can be officially valued and you could have some cash faster than you can blink!
Get an online loan at the lowest interest rates around online with Unclesmoney.co.uk. Check here for free reprint license: Online Pawnbroking: Bank Loan Alternatives.
categories: Finance,personal loans,loans,debt relief,Unsecured loans,personal finance,debt consolidation,Budgeting,credit