Pawnbrokers

A pawnbrokers loan is probably the fastest and easiest way of raising cash fast. We will lend against almost any item of value and advance cash on the spot. You can borrow any amount as long as the value of the item secures the amount borrowed. We lend against:

• Jewellery
• Watches
• Diamonds
• Electrical goods
• Cameras
• Life and endowment policies
• Collectables
• Shares
• Computer ware
• Cars, vehicles, motorbikes
• ...... or any items of value.

Whether it be a humble ring worth £10 or goods worth thousands of pounds, our customers are always given personal and friendly attention and leave our premises satisfied that they have received a superb pawnbroking service and the best advance obtainable against the value of their goods.

Pawnbrokers in East London and Essex

With years of experience, we are experts at what we do and that is why our customers choose to come back to us time and time again.

• A Pawnbrokers Loan is often a good alternative to a conventional loan
• There's no form filling
• No status enquiries or credit scoring
• Fast cash for any purpose
• The loan is immediate and based solely on the value of the item pawned
• You retain ownership of your items
• Confidential service
• All you need to bring is the item you’d like to pawn plus proof of ID
• Interest is charged on a monthly basis
• Very competitive rates
• No Administration or Document fees

If you have had difficulty obtaining a loan elsewhere, try giving us a call and use your valuables to borrow money fast.

Our premises are offices, so you will be served comfortably in a private area.

How Pawnbroker Loans Work

We will look at any item and tell you how much we can lend against it.

Together we agree the loan amount based on the value of your item.

We give you a contract (licensed under The Consumer Credit Act 1974) with a term of 6 months. This will be explained to you in our offices.

The goods remain yours throughout the duration of the loan (they are held as security only) and are kept in secure storage facilities until such time as the loan is repaid.

The goods can be redeemed at any time during the term of the loan by repaying the capital borrowed plus the interest owing up to the point of redemption.

You only pay interest on the number of months that the loan has been outstanding. We then return your items to you.

If the loan has not been redeemed, we write to you towards the end of the 6 month period to remind you that the loan is ending and that it can either:

1. Be redeemed by re-paying the loan in full i.e. the original loan amount plus 6 month's interest
2. or be renewed by paying 6 month's interest only. (giving you a further 6 months to repay the loan)

If the loan remains unpaid or un-renewed at the end of the 6 month period, we would be obliged to sell the item in order to retrieve the capital and interest owing.

For loans over £75, any surplus over and above the capital, interest and reasonable expenses incurred in selling the item would be returned to you.

Our Rates

The interest rate that we charge will depend on the amount of the loan and on the nature of the item used as security.

Interest is charged on a monthly basis, there are no other fees.

Below are our rates for jewellery, gold and watches.

For loans over £10,000, please call our office for a quote

Some examples of Pawnbroker loans

A loan of £500 against a watch, redeemed after 3 months
Loan £500
Total interest for three months £75
Total repayment £575
Monthly interest 5%
APR 69%

A loan of £60 against a bracelet, redeemed after 1 month
Loan £60
Total interest for one month £3.60
Total repayment £63.60
Monthly interest 6%
APR 85%

A loan of £6000 against a Rolex, redeemed after 3 months
Loan £6000
Total interest for three months £630
Total repayment £6630
Monthly interest 3.5%
APR 46.41%

If you have any queries about our pawnbroker service, please contact us. Telephone 0208 518 1828 Email enquiries@maxcroft.co.uk We'll be happy to answer any questions you may have.