The New Generation of Pawnbrokers

The world economy is not really very encouraging nowadays and this is not a new thing. This is going on for a decade now. To cope up with this change, the finance industry has changed as well. Payday loan companies and other short-term loans are now mainstream. These options are availed by many Americans. Despite of the poor track record of pawnbrokers, they are becoming popular among UK citizens. Pawning personal belongings to get quick cash is becoming a common practice. Not all pawnbrokers are cruel and ruthless and not everyone will rob you off of your valuables.

Struggling to fight the image of miserly and shady dealers, which is generally associated with local pawn shops, they are catering to upscale clients who have been hit hard by the economic recession. These companies are offering large loans of up to hundreds of thousands and also offering electronic fund disbursement. They are opening up websites and listing themselves on online directories. They are also being transparent about the pawning and repayment policies. These steps are also helping them to clean their image. As a result, many middle class are opening up about taking a loan from these agencies. The new look and feel is really helping the pawnbroking business to grow. They are seeing increasing footfalls in their physical establishments and many people are using their online services. 

These shops take gold, branded handbags and costly watches as collaterals. So, if I have a costly watch, I might want to pawn my watch online to get quick money without even leaving the comfort of my house. They are offering comfortable repayment options and asking for bearable interest rates.

Another benefit of these agencies is that they do not report to the credit rating bureaus. Thus, if you fail to pay the instalments on time, it will not reflect on your credit report. The worst case might be you losing your watch. But this will not hamper your chances of getting future loans as it is not recorded by any central agency. Thus, you can simply choose not to pay the instalments if you are ready to lose the item without digging a financial grace for yourself. However, not all are the same and thus we would advise you to do your homework before you pawn your valuable. You should do business only with a pawnbroker who has earned the faith of their clients.

Where To Sell Gold in London when in Hurry

We might want to sell gold under different circumstances. The most obvious reason would be urgent need of money. As gold is almost as good as liquid cash, the first option which occurs to us is that we can sell gold and get some urgent cash. Moreover, we might want to sell gold if we don’t like a piece of jewellery. We might also want to sell a golden jewellery which has gone out of fashion. For example, you might want to sell an inherited tiara and use that money to buy something modern. Sometimes, we simply want to sell the gold for other reasons. For example, if you have lost one piece of a pair of earrings, you can’t use the other piece and would want to sell it.

Now the question arises, where to sell the gold. There are multiple options here. You would think of approaching a jeweller, first of all as they trade in gold and jewelleries. However, it is not as easy as you might think. Firstly, when buying gold, they don’t have a uniform rate structure so you need to be dependent on the rate they offer. Secondly, while buying, you might need to prove the ownership of the jewellery.  Not always we have the original receipt with us. In that case, they might simply refuse to buy the piece from you.

What doesn’t occur to you is that the pawnbrokers also buy gold. They are often the better choice because they have a swift process. They go through less paperwork and disburse the cash swiftly. This is particularly helpful if you are looking for urgent cash. You can get cash payment or a bank account transfer within 15 minutes from approaching them. Considering these, pawnbrokers rise above others as the best place to sell gold in London.

While jewellers occupy the front spaces in a market, pawnbrokers don’t invest that much on the business premise and exposure. Thus, you might have some difficulty in spotting them. The internet is your saviour in this case. You can find trustworthy pawnbrokers in your locality if you search on the internet. You will also find their hour of operation and contact number so you can call a few of them and get the rates for gold before you approach any of them. We strongly recommend that you approach a reputed pawnbroker only for a safe and swift transaction.

Pawnbrokers Can Lend You Money During an Emergency

We might need urgent money a few times in our life. However, we cannot approach traditional financial institutions like the bank during these times. Bank, for all the good it does to us, does not provide instant loans. These are the times when we need to seek alternative solutions. We tend to sell our precious and costly items during these moments because we feel that the purpose is more important than those items. During these moments we want a place where we can sell our costly items. Moreover, we wish for buyers who wouldn’t exploit our urgency and offer us peanuts against those valuable items. Among these items, we have gold, golden jewellery, branded handbags, costly wristwatches and more.

Here, where the banks fail us, the pawnbrokers rescue us. We can find these pawnbrokers easily on the internet. If we search for local pawnbrokers, we can find them on the map nearby.  Once you find them, instead of wondering “where can I sell my designer bag”, you can approach them. Talk to them and you will get a vibe of how reputable they are or how transparent is their pawning policy. If you feel you can trust them and if their rate of interest is bearable, you can pawn your bag confidently and get the money without much fuss. Don't forget to ask about the repayment policy. If you want to be doubly sure, you can find reviews of most of the pawnbrokers on the internet and you can form an idea from those. If instead of bag you have jewellery or watches, you can follow the same process.

If these pawnbrokers are located far, it might be an issue. However, many of them are offering online pawning system and you can pawn your item from the comfort of your home and receive the money in your bank account. They have established a robust system for the process and you can more or less rely on them.

You should not approach the pawnbroker who offers the lowest rates because he might have lots of hidden charges to apply. Instead, use the service of the one who is the most trusted and is in the business for a long time. Longevity of the business is always an important factor because dishonest businesses cannot survive the test of time. Honest pawnbrokers might ask for little extra interest but they are worth it.