Pawnbroking

A simple way to get a short term loan

Get good value

Pawnbrokers loan different amounts and charge different interest rates for the same pledge. Shop around for the best value.

Borrow from £10 to £5,000
No complicated form to complete
No awkward questions, we don't need to know why you want the loan
Up to 6 months to repay
No preset repayment dates - pay when you like, what you like
No credit rating checks when you apply, so no risk of getting a black mark against your rating.
It won't affect your credit rating if you decide not to pay off the loan.

Interest is calculated by the day.

We don't charge any extra for early redemption. You only pay for the days you need the loan.

Pay what you like, when you like.

This makes it easier to find the money, and you pay less interest.

Pledging several items? You're in control

You can split them between several separate receipts, making it easier to get back your favourite jewellery fast by redeeming one pledge at a time. Or you can put them on the same receipt, which may mean you pay less interest. For example if you pledge 2 items, getting a loan of £260 on each, you will pay slightly more interest if you take out 2 loans, than if you just took out 1 loan. Check out our interest rates, to see how this might affect you. The choice is yours, but our staff will be happy to give you advice.

Keeping our charges down.

We are jewellers first, and we know you value your jewellery and want it back.
So we are determined to make this easy, and keep our charges down.

Your Questions Answered

Is it the best option?

How do I get a loan?

How much will it cost?

Can I pay it off in stages?

Are payments in cash, or via the bank?

Does the shop insure the pledge?

I've forgotten my Receipt - Can I redeem my pledge?

I've lost my Receipt! What can I do?

What happens if I don't repay the loan?

Who regulates our pawnbroking?

Problems and Complaints where you can get help in the event of a dispute

Is it the best option?

Do check the interest rates, all loans cost money. Pawnbroking may not be the cheapest option. But check carefully, consider those nasty extra charges (for instance if you pay your credit card bill late, or get a letter from the bank) and pawnbroking may work to your advantage.
You have to leave (or pledge) your jewellery as security. If you don't pay the loan off, you will lose that pledge.
Pawnbroking is best for short term loans, because there is no charge for arranging the loan. Pawnbroking is not recommended for solving long term financial problems

How do I get a loan?

Drop into our shop, you will need:
Jewellery to leave as security gold jewellery, or gold coins. Sorry we don't accept watches. You must be the legal owner of the pledge.
Proof of identity - We need ID with your photo and address. A drivers licence has both. If the photo Id does not have your address e.g. your passport, we need something else with the address on, a bill, bank statement, council tax form or prescription. For those lucky enough to look under 18, proof of date of birth is also required, a driving licence has that as well.
We'll need at least half an hour to value your jewellery. We'll even send a text message to your phone so you know when the valuation is ready. Then you come back and sign a form, and we give you the cash.
The valuation will also make clear how much we'll pay if you prefer to sell the jewellery. We put everything in writing, so you will know how much you'll get, and how much you will have to pay back. It's as easy as that!

How much will it cost?

You only pay interest for the exact number of days you need the loan. The interest rate depends on the amount borrowed, as shown here:

Loan Size	Interest per month	Typical APR
Up to £1,000	8.2%	121.28%
£1,001 to £3,000	7.8%	114.27%
Over £3,000	7.4%	107.37%

REPRESENTATIVE EXAMPLE: Total amount of credit: £200 for 6 months. Total amount payable: £298.40 in one repayment of £298.40. Interest rate 98.4% pa(fixed) Representative 121.28% APR.

Are payments in cash, or to the bank?

We can pay you either in cash or transfer the money directly into your bank account. If you choose to receive the loan as cash, during the first two months any repayment must be in cash. After that, you can pay in cash or by debit card.
If we transfer the money directly into your bank account, you can repay the loan in cash or by debit card at any time. We'll need to see your debit card to get the details of your bank account when you take out the loan. If you come back again for a loan, we always have to see the debit card, to make sure your bank details have not changed.
We're sorry about the restriction on paying back by debit card if the loan was originally in cash. Unfortunately our bank does charge us to draw cash, so we've had to introduce this rule.

Can I pay it off in stages?

Yes, pay what you like when you like. Many of our customers do find it easier to pay off a loan in small chunks. Payments are first applied to clear the outstanding interest and then the balance reduces the principal loaned (and thus reduces further interest charges). So as you pay off the loan, you reduce the amount of interest you will pay.

Does the shop insure the pledge?

No. If the pledge is lost or stolen while in our shop you won't have to repay the loan, but we can't offer any more compensation.
If you want more cover, you will have to arrange it yourself. Note your normal household policy will not cover your jewellery while it's left with us as a pledge.

I've forgotten my Receipt - Can I redeem my pledge?

No. Pawnbroking is strictly regulated by law. We have to follow the correct procedure. We cannot hand over your jewellery unless the receipt is produced. The law is intended to protect you, although we realise it can be inconvenient at times.

I've lost my Receipt! What can I do?

We can supply a form (we do not charge, but many pawnbrokers do charge), you must then take it to a solicitor. There you will have to swear a legal declaration, after which the form can be used as a substitute for the receipt. The solicitor will charge for this service. You will need to produce proof of your identity before we give you the form.
Take as much care of the receipt as you would of your jewellery and avoid problems.

What happens if I don't pay off the loan?

Don't worry. You won't receive threatening letters or phone calls, and your credit rating won't be harmed. But we do sell your jewellery to clear the loan.
First we phone to discuss your options. Then we write to you to remind you that payment is due. We also give you the opportunity to pay off the interest and then we will extend the loan period for another 6 months, but only do this if you really can clear the loan soon - otherwise the interest can really mount up.
What if you decide you don't want to repay the loan? If the loan was £75 or less, the pledge becomes our property.
Otherwise we sell the pledge on your behalf (however until it is sold you have the right to redeem it). We deduct our selling costs from the amount we get, then pay off the loan (including interest). If there is any surplus cash, you can collect it from our shop on producing the receipt. We send you a statement showing the position once the pledge is sold.
But don't expect any surplus. We will loan you almost as much as we would give if you sold the item, so normally the sale just clears our charges and the loan.

Who regulates our pawnbroking?

We are authorised and regulated by the Financial Conduct Authority for consumer credit activities.

Problems and Complaints

We are a member of the National Pawnbrokers Association and they offer guidance on pawnbroking matters.

If you are unhappy with our service, please read how we handle complaints so that you know what steps you should take.