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The History of Pawnbroking

Chances are if you walk down any high street, you’ll encounter at least one shop with the pawnbroker three balls hanging outside it. Pawnbroking is a staple of our modern world as it’s a very convenient way to access a cash loan against your valuables. But have you ever paused to wonder how it all began and what the history of pawnbroking truly is? It may surprise you just how far back the practice dates.

Ancient China and the very beginning of pawnbroking

The history of pawnbroking goes back to ancient China, where Buddhist monasteries loaned money to peasant farmers at affordable rates of interest as a service to the community. The monasteries would accept a simple possession as security against the loan, and so began pawnbroking, a democratic kind of loan that anybody could afford. 

Ancient Babylon, Greece and Rome all had pawnbrokers too, a testament to the need of people in those civilizations for a quick and easy type of secured loan.

Christopher Columbus pawned his way across the Atlantic

In the Middle Ages, kings and queens often used pawnbrokers when they were short of a bob or two. Queen Isabel of Spain pawned some of her crown jewels to fund Christopher Columbus’s jaunt across the Atlantic to “discover” America. The English kings Edward III and Henry V both pawned their crowns to finance wars against France. Henry VII even pawned two of his noblemen, Sir Thomas Boucher and the Marquis of Dorset, to pay for troops in his battles against Richard III.

Origins of the pawnbroker three balls

Back in those days, not many people could read, so shops had signs to tell customers what they were. The pawnbrokers’ sign was three balls, originally the symbol of the Italian Medici family, who rose from humble origins as apothecaries and moneylenders to become an important banking firm and rulers of Florence. Their supporters even used to run into battle shouting the Italian equivalent of, “Balls! Balls! Balls!”. 

Other Italian bankers and moneylenders wanted to associate themselves with the Medicis’ success, so they adopted the “balls” symbol too. One of the most important was the House of Lombard, who set up pawnbroking shops right across Europe, all with the three balls sign. But in China, where it all began, the pawnbrokers’ symbol was – and still is – a bat holding a coin, the bat representing good fortune.

The development of pawnbroking laws

In the 16th and 17th centuries, England’s parliament passed a series of laws to regulate pawnbroking and keep out sharp operators. Nowadays all respectable pawnbrokers in England and the rest of the UK are registered and follow strict guidelines. As opposed to loan sharks who operate outside the law, charge illegal rates of interest, and enforce repayment with methods that don’t bear thinking about.

Pawnbroking and the industrial revolution

Pawnbroking really took off in Britain with the industrial revolution, when the number of pawnbrokers in the country shot up from just 750 in 1750 to around 4,500 a century later. 

William Hogarth’s famous 1751 Gin Lane etching features a pawnbroker’s shop, used by gin addicts to borrow money for more drinks (not a good idea!).

Pop goes the weasel was about pawnbroking

In the nursery rhyme Pop goes the Weasel, “pop” means pawn (a pawnbroker was often called a “pop shop”), and the weasel (weasel and stoat, that is) means your coat. Poor families often had to pawn their best coat during the week to pay for provisions like half a pound of tuppenny rice or half a pound of treacle, but they’d redeem it on payday so they could wear it for church on Sunday. Then they’d more than likely pawn it again during the week.

The decline and rise of pawn shops

Pawnbrokers became less important after World War II when state social security came in, and people didn’t have to live so much from hand to mouth. In the 1980s, pawnbroking became popular again as an easy form of credit that was available to anyone.

The passing of the Consumer Credit Act

In 1974, the passing of the Consumer Credit Act meant that all pawnbrokers had to be licensed by the Office of Fair Trading, and they had to make their terms and conditions plain and clear to customers pawning goods. Pawnbrokers are now regulated by the FCA and have to adhere to strict rules and guidelines.

The pawnbroking industry today

Pawnbroking, once the preserve of the very poor, who might have to pawn their Sunday best coat or maybe their wedding ring to tide them over for a week, is now used by all sorts of people to solve their cash flow problems. Nowadays you can pawn a hi-fi, a TV, or even a car. Unfortunately, however, pawning noblemen isn’t really an option anymore, not even for the King.

Now you know all about the history of pawnbroking! Looking for more information on the pawn industry? Read our guide on what pawn shops are and how they work next.

How to Store and Care for your Jewellery to Protect its Value

When you receive a valuable piece of jewellery, whether vintage or brand new, you should be aware of how to look after the gemstones and the precious metal employed to ensure longevity. High-quality branded bracelets from Cartier or a diamond item from De Beers need care in their storage, their cleaning and their wearability. In this article, we go through the different types of metal from gold, silver and platinum and the most popular gemstones found in jewellery and how to care for them. 

Can I Wear my Gold Pieces Every Day? 

We’ve been wearing precious metal jewellery for thousands of years. Scientists have uncovered civilisations wearing gold jewellery as far back as 4000 B.C. Gold jewellery is still the most popular choice. Other options include Platinum, Palladium, Sterling Silver, Titanium and Rhodium when choosing jewellery. 

We’ve enjoyed gold jewellery for so long. Even now we enjoy wearing rings, necklaces and bracelets daily. The question is, however, whether we can wear these precious items every day? When you receive a new diamond ring from Tiffany & Co, do you still choose to wear it regularly?

Most precious metals are hardy and capable of withstanding daily wear. When we discuss gold though, we know that pure 24 karat gold is particularly soft and may lead to bending or tearing (or worse, the claws holding a diamond may loosen). This is why 24 karat gold is not used for modern-day jewellery. 18 karat gold (derived from added alloys) is very often used for making high class jewellery and provides a good solution when balancing the need for both purity and strength 

Both 18 karat gold jewellery and 9 karat gold jewellery are strong enough for daily use. 9 karat gold is more affordable, and generally a lot more common for this reason alone. 18 karat gold is usually used for high end pieces such as engagement rings and wedding rings, as well as for luxury watch brands such as Rolex who exclusively use 18 karat gold or luxury jewellery brands like Cartier. 

Do I Need to Take my Jewellery to a Jeweller to Check Anything? 

Tiffany & Co recommends that you take your jewellery to a jeweller at least once a year, more often if you wear the piece every day. The jeweller will check many aspects of your piece. They will assess the clamps and rings on a bracelet or necklace. They also check the tightness of the claws which hold precious gemstones in place.

How do I clean jewellery?

Jewellers have the equipment and are well acquainted with techniques to clean and care for fine jewellery. Pearl earrings or a sapphire pendant would require different methods of care because the composition of each is unique and a professional jeweller would have that expertise. 

Of course, you may want to clean your jewellery at home using one or several DIY at-home solutions, however, a jeweller is better suited to this to ensure the longevity of your jewellery. 

Where Should I Store my Jewellery?

As young girls, many of us had a jewellery box with a spinning ballerina and a tune playing from within the box. However, if you own a collection of fine jewellery or a new luxury piece of jewellery acquired perhaps at a top end jeweller then perhaps the safe storage would need quite some consideration. 

Most pieces of jewellery come in a storage box of some kind. Lined with soft finishes that would protect the jewellery from scratches and potentially tangling (which necklaces are notorious for). It would be best to store the jewellery in their original soft cases within a dedicated drawer (or safe) in a room that is dry and cool. 

Some of the best Gemstones for jewellery  

  1. Ruby, particularly the Burmese Ruby that is unheated 
  2. Blue Sapphire, the rarest from Kashmir although none have been found there in 100 years
  3. Emerald, particularly Columbian emeralds as fine untreated specimens a valuable investment 
  4. Spinel, the Black Prince’s ruby in the British Crown Jewels, is actually a spinel
  5. Tsavorite Garnet, an untreated gem from East Africa
  6. Spessartite Garnet, a remarkably brilliant gem known for its vivid orange colour
  7. Alexandrite, from Russia and measures high on the Mohs scale
  8. Jadeite Jade, a translucent green that is only found in Burma (Myanmar)
  9. Imperial Topaz, specimens with a pure red natural topaz are counted as extraordinarily rare (and valuable).
  10. Paraiba Tourmaline, Brazil produces the most valuable. It’s known for its distinctive neon glow 

Precious gemstones (and semi-precious gemstones) create stunning jewellery pieces. We’ve listed some of these gemstones and compared their fragility against the toughest stone known to man yet – the diamond using the Mohs Scale. 

A diamond is measured 10 on the Mohs Scale as the hardest gemstone. This is how other gemstones compare in toughness and why that is important:

Fragile stones will be more susceptible to scratches, cracks and possibly falling from the clasps that hold them on a piece of jewellery. This should be considered when considering your jewellery care and how it’ll affect the value of your collection and the possible longevity. 

As with most valuable and precious items, when they are looked after and treated with care their value is maintained. This makes it important to take good care of the fine jewellery in your possession. Make sure that you make a list of the valuable jewellery you have and keep them in a safe place. 

Can I Use My Fine Jewellery for a Pawnbroker Loan?

Jewellery can be used as security for a pawnbroker loan. There may be an instance where you need to access a loan for any number of reasons. This could be achieved through a pawnbroker loan and by using gold as security. Maxcroft offers a bespoke service if you are looking to pawn fine jewellery or pawn gemstones or gold. If you pawn gold or valuables the loan advance can be used for any number of things such as home improvement or towards a car or a holiday.

Visit this page to contact us or this page for more details about our pawnbroking service.

What Are the Top 10 Most Valuable Watches?

A timepiece has been an integral part of everyday life since its popularity soared in the 19th Century. From nurses with fob watches to successful business people with a Rolex, watches are still popular today. So, throughout the years, which watches have become more sought after for their prestige?

Rolex Datejust

Synonymous with quality and precision timekeeping, used Rolex watches tend to hold their value extremely well and the Datejust is a prime example. First produced in 1945, the Datejust model celebrated the brand’s 40th anniversary and was ahead of its time by displaying the date on the face of the watch.

Patek Philippe Grandmaster Chime

Considered to be the most complicated Patek Philippe watch ever made, the Grandmaster Chime takes 100,000 hours to produce and features six patented functions, two independent dials, a reversible case, and 20 complications (functions). Sold by Christie’s for a cool $31.19 million in 2019, it’s the most valuable watch ever sold at auction. 

Cartier London Crash

The inspiration behind Cartier’s famous London Crash watch remains a mystery, although car wrecks and damaged timepieces have long been mooted as the motivation for this surrealist design. As you might expect, used Cartier watches can be worth a great deal but a London Crash watch is certainly something special. Extremely rare and much sought-after, a 1967 model was sold for $1.5 million in 2022. 

Omega Speedmaster

As the official timepiece of NASA, it’s not surprising that the Omega Speedmaster has become something of a collector’s item. Affectionately referred to as the ‘Speedy’ or ‘Moonwatch’, it has been tested by NASA and was worn by Apollo 13 astronauts on their famous mission. First launched in 1957, the design has remained largely unchanged, with only minor modifications being made to facilitate the addition of new technology. 

Rolex Submariner

When we’re talking about valuable watches, you can expect Rolex to crop up more than once! Made popular by Sean Connery in the first James Bond film, Dr No, the Submariner continues to be a beloved timepiece and a hugely popular pre owned Rolex. Undoubtedly the most famous dive watch ever created, it continues to be a highly coveted timepiece.

TAG Heuer Monaco

Often referred to as the TAG Heuer Steve McQueen Monaco, it was the dashing film star who put the Monaco on the big screen in the 1971 film, Le Mans. Noted for its square casing and water resistance (up to 100 metres), the TAG Heuer Monaco watch was ahead of its time in both design and function. With various limited-edition reissues being produced over the years, the Steve McQueen Monaco watch remains popular today, particularly amongst avid watch collectors and film buffs. 

Richard Mille Sapphire Tourbillon

Only 10 limited edition Sapphire Tourbillion watches were produced by Swiss watchmakers, Richard Mille, which should give you an inkling of their value. Featuring a clear, sapphire crystal case, the innovation and precision that the brand is known for are on full display. Retailing at $2.2 million, lucky collectors will be expecting its value to increase as time goes on.

Philippe Dufour Simplicity

A considerable number of the most valuable watches are vintage pieces, yet the Philippe Dufour Simplicity timepiece is a relative newcomer. First released in 2000, only 200 of the timepieces have ever been produced, with a limited-edition 20th-anniversary version being released in 2020. Originally available in rose gold, white gold, or platinum, newer models feature a PD logo and guilloche pattern at the centre of the dial. 

Chopard Happy Diamonds

Introduced in 1976, the Happy Diamonds range revolutionised watch design when it featured free-floating diamonds around the dial. Originally released in a men’s square design, a women’s version and even a sport version was soon introduced. Today, the Happy Diamonds range continues to be amongst Chopard’s most popular lines and is a must-have amongst collectors. 

Rolex Pink Gold Stelline

Another entry from the eponymous watchmaker, the Pink Gold Ref. 6062 is an extremely rare model that doesn’t come up for sale often. You might associate pink gold with Rolex womens watches, but the Stelline was actually a man’s watch available in yellow gold, stainless steel, and pink gold. Only 50 pink gold Stelline watches were sold and just 14 have made it back on the market, so there’s no doubt this is one to look out for! 

Are Watches Good Collector’s Items?

If you’re fascinated by the intricate mechanisms or by the design innovations of high-quality timepieces, watches make a great collector’s item. When it comes to value, it’s the make, model and condition that will impact a watch’s resale value. It’s also important to keep the original receipts, certificate and box which all add to the value of the watch.

With some watches being sold for much higher prices than the original purchase price, it’s easy to see why so many people are choosing to invest in watches as collector’s items. 

How Much Is Your Watch Worth?

If you own a luxury brand watch such as a Rolex, Audemars Piguet, Breguet, Breitling, Cartier, Chopard, Franck Muller, Hublot, IWC, Jaeger LeCoultre, Longines, Omega, Panerai Patek Philippe, Tag Heuer, Tissot, Vacheron Constantin or other luxury watch even an unbranded gold watch, you might be interested to know how much it is worth. Maxcroft can give you an indication of the watch’s value and can also lend against that value if you were to look to use the watch as a means to borrow money 

If you are interested in arranging a pawnbroker’s loan against your watch in Essex or London then Maxcroft has over 40 years experience, offers outstanding service, and issues loans against assets & valuables. Take a look at our pawnbroking watch website page here.

What Is a Pawnbroker Loan?

A pawnbroker loan is a personal loan secured against an asset. The loans can be used for all sorts of things like home improvements, repairing a car, consolidating debt, paying medical bills or to pay for a holiday. TV shows like Posh Pawn and Pawn Stars have raised awareness about pawnbroker loans but how much do you know about how the process works? Here, we take an in-depth look at pawnbroker loans, how they work and what you can use as collateral.

How Do Pawn Shop Loans Work?

If you have an asset, like a watch or jewellery, you can use this item to secure a pawnbroker loan. A pawnbroker will assess the item and offer you a loan amount, based on the value of the asset. When you’re ready to redeem the loan, you simply pay back the capital and interest that’s owed.

Although you use an asset as collateral when you take out pawn shop loans, you don’t sell or give up ownership of the item. Instead, the item is kept in secure storage facilities until you choose to redeem the loan. Once the loan is repaid, your item is taken out of storage and returned to you.

As you can see, pawnbroker loans are simple and straightforward. You simply choose an item of value that you want to pawn, bring it along to our offices, and we’ll offer you a loan amount in cash.

Who Can Get Pawnbroker Loans?

Pawn shop loans are open to everyone and are one of the easiest ways to access cash quickly. While millions of people use pawnbroker loans to realise the value of their assets, they can be a great option for businesses too.

If you’re a business owner and you’re facing a cash flow shortage or you’ve got a large tax bill to pay, a pawnbroker loan could be a fast and easy way to access the funds you need. With no lengthy application process and no credit checks, pawn shop loans can keep businesses afloat and provide a flexible solution to any financial requirement.

What Can You Use as Collateral?

You can use virtually anything as collateral for pawnbroker loans, but the value of the item will determine how much you can obtain as a loan. People commonly use watches, jewellery, and diamonds as collateral for pawn shop loans but it’s not unusual to pawn cars, motorbikes, electronics, musical instruments, and even paintings or art.

Essentially, anything of value can be used as security for a pawnbroker loan and you might be surprised at how many valuable assets you’ve got laying around at home. Luxury items such as handbags, designer jewellery, valuable collectables may be sitting around at home and could be put to good use as collateral. There are a variety of items that can be used to secure a pawnbroker loan. Read this related article: The Weird and Wonderful Things Found in a Pawnshop

Can You Get a Pawn Shop Loan with Bad Credit?

There are no credit checks carried out when you request a pawnbroker loan, which is why they’re a great option if you have a bad credit history. You could spend ages searching for bad credit loans but with a pawn shop loan you can access the cash you need in minutes.

The amount you can borrow is based solely on the value of the item you’re using as an asset, so your income, outgoings and credit history don’t affect your ability to get pawn shop loans at all.

How Long Does It Take to Get a Pawnbroker Loan?

You don’t have to fill out lengthy application forms or undergo a time-consuming assessment when you get a loan from a pawn shop. Instead, the item you want to use as collateral is valued and you’re offered a cash loan instantly. So, it can take minutes to arrange a pawnbroker loan.

As a quick way to borrow cash, it’s not surprising that an increasing number of people are choosing to use pawn shop loans to bridge cash flow situations. While traditional loans from banks can take weeks to be approved pawnbroker loans can be arranged in minutes and are ideal as loans for people with bad credit.

What Happens If You Don’t Pay Back a Pawn Shop Loan?

If you choose not to redeem your loan, the item you used as collateral would be sold to recoup the capital and interest that was borrowed. Pawnbroker loans are quite flexible and give you the option to redeem the loan at a time that suits you.

Can You Pay Back a Pawn Shop Loan Early?

Yes. If you want to pay back a pawnbroker loan early, you can do so at any time. This will reduce the amount of interest owed and mean that you need to pay back less overall. Similarly, if you want to pay off chunks of the loan early, but not the full amount, this can also reduce the amount of interest that will be paid for the remainder of the loan term. Being able to repay your loan early gives you maximum control over your borrowing and gives you the option to redeem your items as quickly as you choose.

How to Arrange a Pawnbroker Loan with Maxcroft

At Maxcroft, we offer a convenient and confidential service. Our office location ensures privacy and discretion, which makes it easy for our customers to pawn items in total confidence. Simply arrange to visit our offices, and we’ll assess your items and make a loan offer in cash.

Are you interested in taking out a pawnbroker loan in Essex? Maxcroft has over 40 years’ experience, offers outstanding service, and issues loans against assets & valuables. If you’d like to discuss an item that you are considering selling, take a look at our pawnbroking website page here or contact us on 0208 518 1828.

Here’s How Much Your Gold Coins, Gold Jewellery and Gold Bars Could Be Worth

Gold is a precious and valuable metal and it’s also something that most people own. From gold jewellery to gold coins, you’re likely to have something at home made from gold and if so, you’ve probably got assets with more value than you are aware of.

If you’re thinking about raising cash against gold jewellery, gold coins or even gold bars, you’ll certainly want to know how much they’re worth. Maxcroft can determine the value of your gold bricks, gold coins and gold jewellery and give you an idea of how much instant cash you can get for unwanted items.

How Much Is Gold Worth?

Gold is a valuable commodity and its value fluctuates all the time often in response to world events which affect economies. In fact, you can see the price of gold in the UK by tracking the FTSE stock market and seeing how much a troy ounce of gold is worth. However, it’s important to remember that the purity, weight, and format of the gold you have will determine its value.

Purity of Gold

24 karat gold is pure gold that isn’t mixed with any other alloys.  It’s worth more than 14 karat gold, which contains 14 parts pure gold and 10 parts alloys. Similarly, rose gold is made with copper as an alloy and is valued according to how much gold is present in a piece of rose gold jewellery. Rose gold has a more coppery colour than yellow gold and so its value may also be affected by changes in fashion too.

Weight of Gold

The weight of the gold items you have will impact on the value. If you have five ounces of gold coins in London they will be worth more than two ounces of the same coins simply because the more gold weight, the more value there is.

When you want to sell gold in Central London, you’ll find that any potential buyer will examine and weigh the item, so that they can offer you a price based on the weight of pure gold.

Format of Gold

Gold comes in many different forms, such as gold bracelets, rings, earrings, coins, and bars. Gold bars are arguably the easiest to value because they consist of solid gold, without the presence of any other materials.

However, if you have gold in other formats, such as gold jewellery, this can be valued and exchanged for instant cash too. When valuing gold jewellery or coins, it’s important to differentiate between pieces which are most valuable in their current format and those which are more valuable when sold to be smelted for their gold content.

A very rare historical gold coin may be worth more in its current format because of its historical significance. Conversely, a relatively common gold coin may be worth more when its value is based purely on its weight and gold content.

When you want to access cash quickly however, your gold is likely to be valued based on its purity and weight, regardless of what format it’s in.

Can You Exchange Gold for Instant Cash?

Absolutely! At Maxcroft we specialise in lending against gold. If you’re looking for gold bars to buy or sell near Camden or you want to sell gold jewellery in London or pawn gold in London and Essex, our experienced valuers will be happy to assess the item and make you an offer. Simply contact our team on 0208 518 1828 or email us at to arrange a valuation.

Using Gold as Loan Security

When you want to access instant cash, borrowing against gold coins, bars or jewellery can be a viable option. If you have a piece of gold jewellery that has sentimental value as well as financial value, you may be reluctant to part with it for good but, fortunately, you won’t have to.

Instead of selling your gold, why not use it as security for a pawnbroker’s loan? This still enables you to access instant cash, but it means that you’ll be able to collect your item when the loan has been repaid. You will remain the legal owner of the item until the loan is redeemed.

How Does a Pawnbroker’s Loan Work?

A pawnbroker’s loan is a simple way to use your assets to access instant cash. You use your chosen asset say a gold bracelet as security for a loan. The item is valued, and you’ll be offered a loan amount based on its value. If you choose to accept, you’ll leave the item in our care and receive the agreed loan amount in cash.

At Maxcroft, our loans are for a period of six months and can be paid back at any time during the six month period without incurring any extra charges. The interest you will pay depends on the value of the loan and the length of time the loan is outstanding. Maxcroft’s monthly interest rates range from 1.99% to 6% for loans based on jewellery, gold, and watches.

When using gold as security for a loan, there are no credit checks or lengthy application processes. Instead, your item is valued based on its purity and weight and a loan is offered based on that value.

Exchange Gold for Cash Now

Are you interested in pawning gold coins, gold jewellery or gold bars in Essex or London? Maxcroft has over 40 years’ experience, offers outstanding service and issues loans against gold and other assets and valuables. Whether you’ve got a single item or a selection of gold jewellery, we’re on hand to provide instant loan valuations.

If you’d like to discuss an item that you are considering raising cash against, take a look at our pawn gold website page here, get in touch with us now on 0208 518 1828, or email us at to arrange a loan valuation.

Need Money Today? Find a London Based Secured Loan Provider Near Me | Pawnbrokers Lending Against Valuables

It isn’t always possible to plan ahead when it comes to your finances and, if you find yourself in need of cash, you may be wondering how you can access the funds you need quickly. Whether an unexpected bill has arrived, or a faulty appliance needs to be replaced, accessing the cash you need doesn’t have to be difficult. Take a look at these seven reasons why pawnbrokers loans are the best way to get fast cash today:

1. Quick Turnaround Time

Most loan options take a relatively long time to arrange. Applying for a standard personal loan can take weeks to arrange which would be of little use if you need cash quickly. As a pawnbroker based in East London, Maxcroft can offer you a loan in a matter of minutes. By assessing the item(s) you’d like to use as collateral, a pawnbroker can make you an instant offer and access to cash right away. When you need cash in a hurry, a pawnbroker can offer a very fast loan service.

2. No Credit Checks

If you have a bad credit history or a low credit score, taking out a traditional loan or getting a credit card can be extremely difficult or impossible. What’s more, loans to people with bad credit are often at higher interest rates, which can make it more difficult to repay the loan.

When you access cash via Maxcroft pawnbroker lenders serving Essex and London, there is no need for a credit check. In fact, it doesn’t matter what your credit history or credit score is when you want to access cash from a pawnbroker. You can get fast cash in London today without the need for a credit check or lengthy application process.

3. Use Virtually Any Item as Collateral

When you take out a pawnbroker loan, you need to use an item as collateral for the loan. This means that the item will be held by the pawnbroker until the loan is repaid, although you will still be the legal owner of the item. If the loan isn’t repaid or renewed, the pawnbroker will be entitled to sell the item/s to retrieve the loan and interest from the sale proceeds in accordance with the terms of the loan agreement.

There are many possible items that can be used as collateral, Maxcroft Pawnbrokers near Central London offer a flexible way to access cash quickly. From jewellery and collectibles to fine watches and certain electrical items, vehicles and motorbikes; these are some of the things we can provide cash loans against. To find out what you can use as collateral for your pawnbroker loan, contact Maxcroft now on 020 8518 1828 or email us at

4. No Bank Account Needed

If you want to access credit, most lenders will require you to have a UK bank account. Even payday loan providers will offer to transfer funds to a bank account, rather than enabling you to collect cash from them directly. Of course, this isn’t convenient if you don’t currently have a UK bank account, or you are not eligible to open one.

However, a lack of a bank account needn’t prevent you from accessing the funds you need. When you choose to take out a pawnbroker loan in Ilford , you can collect your cash as soon as the loan is agreed. Providing you with maximum flexibility and access to fast cash today, you won’t experience any delays when you arrange a loan with a pawnbroker.

5. Secured Loans from Regulated Providers

When you’re considering taking out a loan or applying for credit, it’s important to choose lenders that have a good reputation and are properly regulated. This gives peace of mind as to how you will be treated and ensures that the business keeps your interests at heart and follows the rules and guidance set in law.

Some people mistakenly assume that pawnbrokers aren’t regulated but this isn’t the case. In the UK, pawnbrokers are regulated by the Financial Conduct Authority (FCA) and are required to adhere to relevant rules and regulations. Due to this, you can be confident that you’ll be taking out a loan from a reputable and regulated provider when you pawn items with Maxcroft East London pawnbrokers.

6. Easy-to-Understand Terms

Some financial products are complicated and not easy to understand which can lead to people becoming over indebted when they are not clear on how a loan works. At Maxcroft, we’re committed to making things very straightforward. Once we’ve assessed the item(s) you wish to use as collateral, we’ll make a loan offer and explain how the loan works face to face to make sure that you understand all the relevant terms.

Our loans are for a period of six months, but loans can be renewed by agreement by paying off the interest only and then the loan can be renewed. Interest is charged on a monthly basis and the interest rate you pay depends on the total loan amount and the type of item used as security for the loan as collateral. Taking out a pawnbroker loan is straightforward and our friendly team is always on hand to explain the details to you.

7. No Setup Fees

When you arrange a loan with Maxcroft, you won’t have to worry about hidden fees or charges. We don’t charge any setup fees and you won’t be required to pay anything upfront. This means you can access the full value of the loan in cash.

Get Fast Cash in London Today

Now you know why so many people choose to use a pawnbroker loan to access fast cash.  If you want to use your own items as collateral on a loan then we are on hand to provide the assistance you need. Are you interested in using your items as collateral for a pawnbrokers loan in Essex?

Maxcroft has over 40 years’ experience, offers outstanding service and issues loans against assets and valuables. If you’d like more information about how pawnbroking works, take a look at our website page on how to pawn gold and valuables here.

Why You Need a Pawnbroker to get cash for Diamonds Instead of a Traditional Jeweller

Diamonds are one of the most valuable assets in the world, but it is difficult to find a reliable place to to buy or sell diamonds or to use diamonds to borrow money against their value . This blog post will discuss how pawnbrokers can help you buy, sell or borrow against diamonds.

We’ll also explore why traditional jewellers may not be the best bet when looking for diamonds. Pawnbrokers have no incentive to inflate prices as they don’t refer to retail values when looking at diamonds. Rather they look at the core value of diamonds as they are traded.

How to Buy and Sell Diamonds with a Pawnbroker

Before you can compare the services of a pawnbroker and a traditional jeweller, you’ll need to know how pawn shops work. If you want to borrow against loose diamonds or jewellery, a pawnbroker will assess the items and use the value to offer a loan amount. Once accepted, you’ll receive cash for diamonds (or whatever items you’re pawning) and the pawnbroker will keep hold of the diamonds as security for the cash loan.

You remain the legal owner of the diamonds and can get them back by paying off the loan. If necessary, the loan can be extended giving more time to repay. If the loan is not repaid within the six month time frame, the pledge can be sold by the pawnbroker to repay the loan.

Some pawnbrokers have diamonds for sale at more realistic prices than say a retail shop so it’s worth checking if they have unredeemed pledges for sale consisting of diamond jewellery such as diamond rings or tennis bracelets, Diamond cluster jewellery or separate gemstones.

Whether you have a single piece of diamond jewellery or multiple loose diamonds, a pawnbroker can help you access their monetary value as you get cash for diamonds. Want to know more? Get in touch with Maxcroft on 0208 518 1828 or email us at

Dealing with a Traditional Jeweller

If you want to sell diamonds, a traditional jeweller may not be able to provide the help you need. Today, many jewellery shops only sell diamonds to customers but will not necessarily be interested to buy diamonds from the public preferring to source their stock from industry suppliers instead.

Even if you do find a traditional jeweller who is willing to purchase your diamonds, you might find that they don’t offer you a very good price for them.

When you’re planning to purchase diamonds, a traditional jeweller might seem like the obvious place to go. However, buying from a jeweller means paying retail prices, which can be substantially higher than the prices available at a pawn shop. By looking around and finding a pawnbroker who is selling diamonds, there’s a good chance that you’ll find diamonds at a more attractive price.

Retaining Ownership of Your Diamonds

Retaining ownership of your diamonds is another key difference between selling to a traditional jeweller or borrowing cash against diamonds with a pawnbroker. If you sell diamonds to a local London jeweller, for example, it’s likely that they’ll purchase them outright. Once the deal is done, you’ll have no option to buy them back.

In contrast, working with a pawnbroker enables you to retain ownership of your diamonds, while accessing cash for them. Provided you repay the loan, the pawnbroker won’t be able to sell your diamonds. Once the loan is repaid, you’ll be able to collect your diamonds and retain possession of them, sell them or use them to take out another pawnbroker’s loan.

To learn more about borrowing money against diamonds at a London pawnbroker, talk to our friendly team now on 0208 518 1828 or email us at

How Long Does It Take to Get Cash for Diamonds?

At Maxcroft, we understand that sometimes you need cash quickly, which is why we make speed a top priority. In fact, you can get cash for diamonds instantly when you decide to use our pawnbroking service. We’ll simply appraise the item, offer you a loan amount and if you choose to proceed, you will receive the cash on the spot. If you want to get cash for diamonds in the form of a same-day cash loan, then our London pawnbroking service is certainly what you’re looking for!

How Much Are Your Diamonds Worth?

The value of your diamonds will determine how much you can access in the form of a pawnbroker’s loan. Diamonds can be extremely valuable, which is why many people choose to use them as security for a pawnbroker loan. However, the value of diamonds can vary depending on their cut, clarity, and size. Due to this, our experienced team will assess loose diamonds or diamond jewellery to determine the value before making you a loan offer.

Are you interested in borrowing money against loose diamonds or diamond jewellery in Essex or London? Maxcroft has over 40 years of experience, offers outstanding service and issues loans against assets and valuables.

If you’d like to discuss an item that you are considering pawning, take a look at our Pawn Diamonds website page here. Alternatively, contact our talented team on 0208 518 1828 or email us at and we’ll be happy to help.


5 Significant Advantages of Pawn Shops

Pawn shops provide a unique and valuable service for individuals and businesses alike. Providing loans against a variety of property, including jewellery, collectables, electronics, and cars, Maxcroft makes it easy to liquidise your assets and access cash on the same day. To find out more about the benefits on offer, take a look at these five significant advantages of using a pawn shop: 

1. Fast money 

Anyone can be caught off guard by an unexpected bill or a sudden drop in income. When you need a fast solution to cash flow problems, pawn shops can be a lifesaver. Providing quick cash loans, often within minutes, you can use your assets as collateral to access the funds you need. 

At Maxcroft, we understand that many people rely on pawnbrokers to gain access to cash quickly, which is why we always go over and above to provide the professional service you need. When you’re looking for East London or Essex pawnbrokers to provide fast, same-day cash loans, you can trust us to respond to your request swiftly. 

2. No credit check required 

Unlike traditional lenders, pawn shops don’t require a credit check to issue a loan, which means that a history of bad credit won’t prevent you from accessing cash quickly. If you’re looking for somewhere to ‘pawn my watch Essex’ but you’re worried that a low credit score will put you at a disadvantage, there’s no need to worry. In fact, many people use pawnbrokers precisely because there are no credit checks.

Remember – numerous credit checks can have a negative impact on your credit report, even if you don’t subsequently obtain a loan. Credit checks can be recorded on your credit file and, when multiple lenders run credit checks in a short space of time, it can put future lenders off too. Why let a short-term cash flow issue affect your future finances? 

With pawnbrokers in Ilford, Hornchurch, Dagenham, Romford and Essex you can access asset loans on your valuable items without the need for a credit check, which gives you the freedom to get the cash you need quickly. 

3. Easier approval process 

When you request a loan or a line of credit from a traditional bank or lending institution, it isn’t just credit checks that can slow the process down or scupper your chances altogether. Typically, you’ll be asked to provide a vast amount of information, including property details, income, and expenditure. This can take a significant amount of time to collate, which means you won’t receive your funds that quickly.

Following this, you may need to provide ‘evidence’ of your financial arrangements, such as wage slips or bills. Once these have been submitted, it can take weeks for a traditional lender to process your application and approve or deny your request. 

When you visit our Ilford pawnbrokers, you’ll be amazed by the hassle-free approval process. Experienced pawnbrokers will assess the item(s) you want to pawn and offer you a loan on the spot. If you decide to proceed, we can release the funds to you straight away, so there’s no need to wait to access the cash you need. 

4. Get More for Your Items 

When you want to get cash fast, selling your valuables might seem like a viable option. However, there are many disadvantages associated with selling items on the second-hand market, particularly when you compare the process to using pawnbrokers to get a loan.

Attempting to sell your items via marketplaces, like eBay or Craigslist, means you’ll need to find a buyer who actively wants to purchase them. To ensure a fast sale, this might mean letting them go for less than they’re really worth. Additionally, people often want to see or inspect ‘big ticket items’, like cars or motorbikes, before parting with their cash, which obviously takes time. 

If you are considering selling your items on the second-hand market, don’t forget that you’ll often have to pay a commission or flat fee to do so. Online marketplaces can charge a significant amount every time you make a sale and, if you need to send items to the buyer via the post, you’ll need to factor in the cost of postage and packing too. 

Of course, once you’ve sold an item to a buyer, you won’t have any chance of getting it back either. 

Fortunately, visiting a pawnbroker in Ilford enables you to avoid this hassle and release the true value of your items. What’s more – you can get your items back by paying off your pawnbroker’s loan in accordance with the terms of your agreement. 

5. No Long-term Commitment

A temporary cash flow issue often requires a short-term solution, yet conventional loans can take years to pay back. If you want to access cash without a long-term commitment, then pawning your items at East London pawnbrokers could be the ideal option. 

Our loan term is six months, but you can pay the loan off at any time during the 6 months paying the capital and only the amount of interest owing for the time the loan has been outstanding. The  items (pledge) can then be returned to you straight away. 

Is a Loan from Ilford Pawnbrokers Right for You?

There aren’t many ways to access cash quickly, particularly if you have bad credit. However, if your funds are tied up in assets, Ilford pawnbrokers can release their value and provide instant cash loans. With no credit checks, lengthy application processes, or time-consuming valuations, a pawnbroking loan is an easy way to find the funds you need. 

Are you interested in pawning jewellery and valuables, or do you want to ‘pawn my watch’ in Essex?  Maxcroft has over 40 years’ experience, offers outstanding service, and issues loans against assets & valuables.

If you’d like to discuss an item that you are considering selling, take a look at our asset loans website page here.

Alternatively, get in touch with our team and arrange an appointment at our offices. We’ll take a look at your item(s) and offer you a loan on the spot!