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Pawnbroking Loans are secured on your items, if the loan is not repaid it will be sold to pay the debt.

Representative Example: Total amount of credit: £200 for 6 months. Total amount payable in one instalment: £325.88.

Total charge for credit: £125.88(Interest Only). Interest rate 125.9% pa(fixed).
Maximum APR 165.5 %APR. Maximum payment term up to 6 months.

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What are pawnbrokers?

A pawnbroker is a person or company that provides loans, secured with valuable personal items. The item is returned once you’ve repaid the loan, as agreed with the lender. However, if you fail to repay, the lender will keep the item as collateral.

Traditionally, pawn shop loans were only available in store, where items would be valued and money lent in person, based on a business’s lending criteria. However, with the rise of digital tools and accessibility, many companies now offer online pawnbroker loan services, making it easier for a wider range of customers to access such loans.

Many customers choose to take out a pawnbroker loan rather than an alternative form of credit such as a short-term loan or credit card, because they have a poor credit rating or because they cannot afford the fees that often accompany these other types of loans.

How does an online pawn shop work?

Just like a traditional pawn shop, with pawnbrokers online you can take out a loan using an item of value as collateral. Instead of visiting a store in person, however, you’ll fill in a form and receive a valuation online.

Your loan contract will be completed online and you’ll usually send your item via post or through a courier service.

Using an online pawn shop is a quick and convenient way to secure a loan, wherever you might be in the country. Instead of relentlessly searching for pawn shops near you, you might find it easier to complete the whole process online.

What items can I borrow against?

Most pawnbrokers allow you to take out a loan using a variety of items, depending on the amount you want to borrow. Gold and jewellery pawn shops used to be the most common stores in the industry, but other personal items are now often used, including antiques, designer handbags, watches, cars and electronics. If an item is of value, it’s usually considered and accepted by most pawnbrokers.

Some pawnbrokers, like us here at H&T, offer high-end loans that allow customers to borrow a larger amount of money, secured with a high-value item. We can lend higher amounts against jewellery, watches or gold, providing that the items value is more than what we’re lending.

Why should I use an online pawnbroker?

Someone might choose to use a pawnbroker because they need access to extra funds relatively quickly. It’s usually faster to get money through a pawn shop or online pawnbroker than it is to use a different means of borrowing money such as a loan or credit card.

An online pawnbroker loan is quicker and easier to access than an in-store loan. There’s no need to take your items to a shop and everything can be processed online. Not only that, but it’s also often a better option for customers who might otherwise be unable to borrow online due to poor credit scores or high monthly expenditure.

You will usually be able to take back your item as soon as you pay off your loan, whether you choose to pay it early or on time. If you do pay it back at an earlier date, you will only pay interest for the amount of time you borrowed from us, as interest is charged daily.

If, for any reason, you’re unable to pay back your loan, your item will be sold to pay the debt and you will not be asked to make up the difference.

How much does it cost to take out a pawnbroker loan?

The amount you’ll pay in interest will depend on what you borrow and the term over which you take the loan out. Most stores and online pawn shops in the UK, allow a maximum term of six months.

As an example, with H&T, you can borrow £200 for six months and it will cost you £325.88 when you pay it back in one instalment, therefore the interest rate on this amount is 125.9% pa(fixed)

Our high-end pawn loans can allow you to borrow up to £1 million with high-value assets.

Why choose us as your online pawnbrokers?

If you choose to take out a pawnbroker loan with us, you won’t be assessed by your credit score or your income; only by the value of the item that you’ll be using as collateral. Our free post and insured courier services means that you can send your item, or have it collected hassle-free and receive your money in next to no time.

We have 120 years of experience in offering pawnbroker services to the UK. Our expansion over recent years to provide a complete, online facility means you can take advantage of our professional and convenient service from anywhere, at a time that suits you.

But don’t just take our word for it. Our customers have rated us as ‘Excellent’ on Trustpilot, citing our outstanding service, expertise and professionalism.

We’re also authorised and regulated by the Financial Conduct Authority, so you can trust us to deliver a high standard of service that adheres to the latest consumer guidelines.

Contact us for your online pawnbroker loan

Whatever item you want to use for your online pawnbroker loan, it’s quick and easy to get a quote. Simply choose from jewellery, watches, gold or handbags, fill in your item details and you’ll get a quote within 30 minutes if you complete the form on Monday to Saturday between 9.00am – 5.30pm. If you need any help or advice, our expert team are on hand. Just call us on 0800 838 973 or contact us via our online form.

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