Your Questions Answered
I haven’t done this before. How does it work?
The process from valuation to loan is very simple. First we will establish an open market resale value for your items. We work with industry specialists and auction houses to arrive at this value. We then offer up to 80% of the resale value to you as a loan. Read our Guide to Pawnbroking.
How much can I borrow and for how long?
You can borrow any amount starting from £500. There is no maximum. The standard loan term is 6 months. You can apply for an extension of one term (another 6 months) by paying off all accrued interest charges, set-up fees and any depreciation in the value of the asset.
How can I get my items to you?
For small items, such as gold or watches, send them quickly and securely by using Royal Mail Special Delivery. Fully insured by us while in transit.
For larger or more fragile items, we work with a number of specialist logistics company who will ensure your items are delivered to us safely..
Where are the items kept?
Items are fully insured and are kept on site or at a partner’s secured facility. We know how precious your items are, so we ensure we take exceptional care of them. We are insured with XL Catlin, the largest Lloyd's syndicate (by gross premium).
Do you conduct any credit checks?
No. This is a private loan against a personal asset. We only verify your identify electronically (failing which we may ask for copies of physical documents) to comply with anti-money laundering regulations and to minimise fraud risk. For higher value loans we may seek a High Net Worth certificate from your accountant.
What happens if I cannot repay or extend?
We will sell the pledged asset as soon as possible to recover your dues under the loan. Any surplus after paying off the loan and associated sale expenses, will be returned to you by bank transfer. We will NOT report the default to any credit agency.
How quickly can I receive a loan offer?
We are meticulous with our valuations. For most assets that we can value in-house and where the loan amount does not exceed £30,000, we will make you a loan offer within 3 hours of receiving your asset.
How quickly can I receive the money?
Your money will be transferred directly into your bank account within 1 working hour of your accepting the credit agreement, provided that your bank account is covered by the Faster Payments network.
How will I receive the money?
You can only get the money transferred to a UK bank account held in your name. We will verify that the bank account details that you have provided belong to you. We will attempt to do this electronically, failing which we may ask for a copy of your bank statement. To ensure compliance with anti-money laundering procedures and to minimise fraud risk, we will not transfer the money to any other account.
How can I extend the loan?
You can request an extension of an existing loan online, after repaying all outstanding interest and charges, including the set-up fee that was added to your loan. On receipt of your extension request, we will consider it as a new loan request. Our valuation experts will consider if there has been any material depreciation in the asset value. If yes, you will need to pay the difference in valuation.
How can I repay the loan?
You can repay the loan by transferring money to our bank accounts. Please remember to quote the loan reference number on any transfer so that we can allocate the funds appropriately. You cannot repay the loan with the use of a credit card, charge card or debit card.
How do you maintain privacy?
Lenders only get to see a summary of the assets they are lending against. We take care to ensure that we do not publish any details which can reveal the unique identity of the borrower. We never share any images with them. If you have any specific concerns in this regard, we will do our best to accommodate them.
What does the valuation reflect?
Our loans are based on a percentage of the realizable secondary market value as determined by experts in your particular asset. This value will be different to the original purchase price, or to any insurance valuations you may have received.
Do I have to pay anything for the valuation?
No, the valuation is free. There are no charges to pay if you do not proceed with a loan. If you proceed with the loan, there is a set-up fee payable upfront which covers all valuation costs.
Do you offer a valuation certificate?
We do not. Our valuations are done with the sole purpose of ascertaining the value of your assets as security for the loan you get from lenders on our platform.
How quickly do you confirm a final valuation?
In most cases, within 4 working hours of receiving your asset. We may take longer if we need a second opinion from an external specialist.
Will my final valuation be lower?
No. Unless the original description that you provided us or the pictures that you uploaded missed out on mentioning facts, defects or features that may affect the valuation. .
Why don’t you accept insurance or other valuation certificates?
We would certainly take into consideration any additional information that you provide us. However, our specialists will always assess the item independently using their expert knowledge and current market databases.
Is it safe to send valuables by courier?
Yes. We advise that you send your items by Royal Mail's guaranteed by 1pm special delivery service. The courier is tracked all the way until it is signed for by us and opened under camera. So far, not a single item has been misplaced, damaged or lost in transit with Royal Mail Special Delivery.
In any case for complete peace of mind, we provide full insurance coverage for free on all items in transit.
How much is the insurance cover?
For sending through Royal Mail, your items will always be insured up to the full indicative (or final, where completed) valuation. Although our standard insurance cover is for items up to £25,0000, we will arrange for additional cover for more expensive items.
Which items can I send by courier?
You can send almost anything in courier, as long as your package is not too large or heavy. Please ensure that any item you send is appropriately packed. For large or heavey items, please contact us and we will arrange transport through a specialist logistics company.
How should I pack my items?
There are no strict guidelines as long as you pack your items securely with enough protective material. However, you can refer to the below guidelines: use a rigid box, wrap all items separately with adequate cushioning, rule of thumb is at least two inches of internal packaging between external walls and your asset, using materials such as bubble wrap or foam sheets and use strong tape.
Can you provide me a quick valuation in your office?
Whenever possible, our expert valuer will meet you at the scheduled appointment time and attempt to give you a valuation in your presence. However, this may not always be possible for logistical reasons and for items where we need more evaluation time.
How are my assets returned to me?
In most cases, we will return your assets through free and fully insured courier. If your assets are held in our office, you may come and collect your items if you so wish but an appointment will need to made in advance. Of course, if it is a luxury car or grand piano that we picked up from your house, we will send our special handlers to drop it back at your home again.