Loans with Cuttings
Pawnbroking is a quick, easy and simple way in order to get a loan. It is now viewed as a competitive financial service and utilises your possessions in a sensible and controlled way. Customers are able to use their own goods as security in order to opt for a flexible loan. This can then be paid back at any time that suits you, from a few days to six months. You will only need to pay interest on the amount of time you have borrowed for. There are also no credit checks involved in pawnbroking. If you own the right goods, the money is yours.
If you’re thinking about using Cuttings the Pawnbroker for a quick and easy loan, you may be wondering what our process is and how you can ensure your loan is approved sufficiently.
How do I apply for a loan?
You may have noticed the easy online application to the left side of our website, which is a great way to apply for a pawnbroking loan. It’s quick to fill in, and we’ll contact you once it’s been received. Alternatively, if you’d rather apply in person, you can find us in Ramsgate or by giving us a call on 01843 584550.
What items do you lend against?
Here at Cuttings, we don’t lend against just anything. We are jewellery specialists and lend against gold, fine jewellery and luxury watches. If you own any items with a gold content, these can help to add to your loan value, and the same goes for modern and antique fine jewellery. If you’re unsure whether your jewellery is fine or costume, you can find out here. We specialise in watches from brands such as Rolex, Cartier, Panerai, Patek Philippe, Breitling and Omega, though all luxury watches can secure you a pawnbroking loan.
You will receive your loan the same day as we receive the item. Your items are kept in a high security safe within our premises, of which is protected by a sophisticated alarm system and many other state of the art security protection systems.
How much will interest be?
You will need to pay for interest on your loan, but only at the end of the term, whether you choose this to be one week or six months. There are no weekly payments with pawnbroking. You will simply pay back the loan plus interest at the end of the term. You can view an example of the costs you could be paying for your loan here. This should give you an idea of the amount of interest you will be paying, depending on how much money you are borrowing.
What if I can’t repay?
If the six month term has come to an end and you need more time, this is absolutely fine. As long as you have repaid and are up to date on all the interest, you will be allowed another six months to repay your initial loan and redeem your item. If you are unable to repay your loan, the item you have used in order to secure your loan may be sold or auctioned in order to recover the outstanding loan balance. This will all be outlined in your signed loan agreement.
If you’re interested in obtaining a loan with Cuttings, or you’d like more information on doing so, please get in touch today.