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 enquiries@maxcroft.co.uk.
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.
