Suite 45, 88-90 Hatton Garden,
London EC1N 8PN, UK.

Suite 45, 88-90 Hatton Garden,
London EC1N 8PN, UK.

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NPA Declared the Results of Pawnbroking Research 2020

August 20th, 2020
Pawnbroking Research

The National Pawnbrokers Association (NPA) works to render independent pawnbrokers all over the nation the perfect resources and implements to consolidate the pawn industry. The members of NPA operate to amplify and develop the professional and pragmatic image of all pawnbrokers.

With that in mind, The National Pawnbrokers Association has authorised a significant independent research project that focuses on the experiences of pawnbroking customers.

The University of Bristol Personal Finance Research Centre undertook the research that obtained perceptions of customers’ views and their personal experiences.

However, the research included 1,669 pawnbroking customers from all across the nation and analysis were made based on the management information from 85,000 loans.

So What Were The Key Findings?

The research conducted by The National Pawnbrokers Association (NPA) details the findings given below –

  • Two-thirds of the customers in the survey were women, and they were under 54 years of age.
  • While 62% of the customers retrieved their loan, 24% renewed, and 14% penance their pawn loan.
  • Out of the total 1,699 pawnbroking customers, 92% regarded that renewing the loan is a significant benefit of pawnbroking, and the potential to renew is essential.
  • More than 90% of the surveyed customers were satisfied with the pawnbroking services.

Pawnbroking was considered as a high-cost option by just 5% of customers.

Out of ten customers, six of them said that they needed the pawn loan for their living expenses.

Customers opted for pawnbroking loans because of its speed, simplicity and convenience.

£243 is the mean average amount of credit, and it mostly lends against gold jewellery items.

More than 90% of customers were satisfied with the pawnbroking loans.

Thus, the findings show that most of the customers are familiar with the way the process of pawnbroking works. They are aware of the convenience of the pawn loans and delighted with its flexibilities.

Moreover, maximum customers redeem their collateral by paying off the loan amount on time. Many people also consider the process of renewing the pawn loan as one of the significant benefits of pawnbroking.

Interestingly, many customers did not consider the cost to be a matter of concern.

Ray Perry, NPA Chief Executive, said –

“We are delighted with the extremely high level of customer satisfaction and the value they see in the service provided, and we are pleased renewals are considered extremely important in supporting customer needs. We believe pawnbrokers are well placed and well equipped to continue to help customers as we start to move on from lockdown and the impact of Covid-19 on households.”

Indeed, pawnbroking is ideally the best way to raise instant cash without having to sell your precious asset outright. More and more people today are turning to pawnbrokers to get access to fast cash and meet their short-term financial needs.

Thus, trusted pawnbrokers like at The Luxury Hut are always working to make the pawning process more convenient than ever.

If you are looking to raise instant cash, get in touch with The Luxury Hut pawnbrokers in London.

Pawn Your Luxury Watch & Jewellery

With a secure online platform and an office in Hatton Garden, London, we provide our customers with a quick and secure way to get a loan against luxury watches, diamond and gold jewellery.

Moreover, as the trusted pawnbrokers in London, we aim to provide the highest amount of cash loan against the assets that customers want to pawn with us. Check out loan calculator here.

Thus, fill up our online form to get a free loan quote. Or call us on 0207 242 5411 to book an appointment at our office in Hatton Garden, London.

How to Pawn your Asset in London?

May 5th, 2020
how to pawn your asset in london

It is natural or maybe, a common fact that every individual needs fast cash at one time or another.

Whether you want to invest in an asset or to pay off your electric bills, you may run out of money.

In such a hard-up situation, ideally, the easiest way is to consider pawning any luxury asset with a trusted pawnbroker and borrow against it.

The Luxury Hut pawnbrokers in London have many years of experience in the pawnbroking industry.

pawn your watch

When it comes to getting a competitive cash loan offer against a luxury watch, diamond or gold jewellery, we are the only name to trust.

We work with some of the most professional evaluators in the UK. They can determine an accurate price of any luxury watches and precious jewellery that customers want to pawn with us.

However, as one of the most trusted pawnbrokers in London, we always strive to make the pawnbroking process more convenient than it has been ever.

Thus, pawn your luxury watch or jewellery with us today and raise instant cash without any obligation.

What Items Can I Pawn?

The assets that are considered as collateral for a pawn loan vary from one pawnbroker to another.

With The Luxury Hut pawnbrokers London, you can pawn luxury watches, diamond and gold jewellery.

Our expert evaluators have years of experience and knowledge in the pre-owned luxury watches and jewellery industry.

We continually keep track of the changing market prices, be it is of a precious metal like gold or luxury watch like Rolex.

Thus, you are likely to receive the most updated and fair amount of credit loan against your luxury watch or any precious jewellery piece.

Moreover, you can pawn more than one item at a time with us at The Luxury Hut.

 

pawn your watch

How does our pawnbroking process work?

The Luxury Hut offers a quick, secure and straightforward way to pawn luxury assets and raise instant cash.

You can choose to pawn your Rolex watch or a diamond ring online in London or via appointment from anywhere in the UK.

Regardless, we will make the process smooth and hassle-free for you.

  • Fill up our online form with all details of your asset.
  • Receive a free valuation
  • Send your asset to us via a specialised and insured delivery envelope that we may arrange for you.
  • Or call us on 0791 747 2203 to book an appointment and visit our office in Hatton Garden, London with your asset.
  • Receive your final cash loan offer
  • Accept it, sign the pledge receipt & get paid immediately.

However, you only have to provide us with valid proof of ID to enter the agreement.

The maximum tenure of a pawnbroking loan is typically six to seven months. Once your loan term ends, you can redeem your collateral paying off the original loan amount and the interest due.

You do not have to pay any monthly charges. Moreover, you can also retrieve your asset anytime within your contractual period without paying any early redemption charges.

How Much Can I Borrow?

The Luxury Hut pawnbrokers London assess every item precisely and determine an accurate price of it.

However, we take into consideration many factors when determining how much your asset is worth.

The factors include condition, age, brand, metal, gemstone (if any), rarity, box and papers (if any), and also current market price.

The condition is one of the most significant factors that we consider while deciding on the final cash loan amount that we are willing to lend on the collateral.

If your asset is in good condition, it is likely to fetch you a higher value.

Thus, experts recommend taking care of a luxury watch or any kind of precious jewellery to maintain its condition.

pawn your jewellery

However, the best way to know how much you can borrow against your asset is by – filling up our online form. You will receive a free no-obligation quote immediately via phone or email.

The Luxury Hut pawnbrokers in London aim to beat any high street pawnbroking rate. Check out our loan rate calculator now.

Or call us on 0791 747 2203 for an instant appraisal over the phone or to book an appointment.

Pawn your Luxury Asset for Instant Cash – The Luxury Hut Pawnbrokers

April 21st, 2020
pawn your luxury asset for instant cash the luxury hut pawnbrokers london

The Luxury Hut pawnbrokers in London provide you with a secure and hassle-free way to pawn luxury asset(s) and raise instant cash. With expert evaluators always on hand, we work to make the pawnbroking process simpler and straightforward than ever.

Pawn your luxury watch, diamond or gold jewellery and get the highest possible amount of credit loan without any obligation or hassle.

However, we determine an accurate value of any luxury watch or jewellery, considering many essential factors like its condition, age or brand and the current market price.

Pawnbrokers in london

Fill up our online form today and get a free valuation shortly. Or, call us at 0791 747 2203 for an immediate appraisal over the phone or to book an appointment at our office in Hatton Garden, London.

Pawn Your Rolex and Get a Quick Loan from Pawnbrokers Hatton Garden

October 4th, 2018
rolex watches

During your short-term financial needs, you may decide to pawn your Rolex watch to raise some quick cash, securing a safety pawn loan from any trustworthy pawnbrokers Hatton Garden. While more and more individuals today are turning to pawnbrokers for acquiring an instant loan, high street pawnbrokers are monitoring and working to make the pawnbroking process faster, more secure and straightforward.

Rolex is universally recognised and by far, the most coveted brand both in the retail as well as the second hand market. Pawning a Rolex watch is an easier way to raise money when short of cash as most luxury watches retain their value well over the time. Although the higher demand depicts that getting a loan against your Rolex timepiece can be more convenient than pawning other fine watches, the real deal still lies in choosing a professional and trustworthy pawnbroker who understands the monetary significance of luxury timepieces like Rolex.

With a trustworthy local pawnbroker in Hatton Garden at The Luxury Hut, you are likely to secure the highest amount of credit, getting a loan against Rolex in a straightforward and hassle-free way. Here are some points that can help you to have the best experience and obtain the best value possible for your asset from the Hatton Garden pawnbrokers. Have a look!

  • Consider your watch’s condition

One of the aspects that play a vital role in determining the value of a Rolex watch is the condition. Thus, before you walk into a pawn shop to pawn your Rolex, it is essential for you to ascertain about the wear and tear of your watch. While a shallow scrape in your watch’s case, bracelet, or bezel may not influence its value, scratches, blemishes or any other significant damage in any part of your watch as well as missing links can bestow a direct impact on the amount of credit that The Luxury Hut pawnbrokers in Hatton Garden are willing to offer you cash on your luxury timepiece.

A pre-owned Rolex watch in mint condition may worth more than a watch in poor condition. The servicing history and its documents can help in assessing the condition while enabling the Hatton Garden pawnbrokers at The Luxury Hut to determine the actual price of your pre-owned Rolex watch.

Keeping in mind that appearance may also contribute a lot to the credit amount you expect to obtain when getting a loan against your Rolex, it is crucial for you to ensure that your asset is clean and serviced regularly. With a well-cared and well-serviced Rolex watch, you are likely to receive the best value and ultimately, maximum credit amount possible from any reliable pawnbroker like at The Luxury Hut.

  • Original box, papers and other documents (if any)

Ideally, the most obvious way to get the best value when pawning your Rolex with The Luxury Hut is retaining its original box and documents. While the papers like the certificate, receipts, warranty card and servicing papers will ensure your watch’s authenticity, they may also help in determining the final price that The Luxury Hut is willing to offer for it.

Although it is possible to pawn your Rolex watch without its box and papers and secure a collateral loan from a pawnbroker, you can always expect to obtain a better price with them and eventually, a higher cash loan amount.

  • Attach high-resolution pictures

While it is indeed possible to carry out a pawnbroking process online in today’s internet era, attaching high-resolution and clear images of your Rolex watch and also, of the box and papers (if any) taken from every angle is essential when you pawn your Rolex online.

High-quality pictures will not only help a  at The Luxury Hut to perceive its condition better but also can help you to obtain the price you expect for your luxury asset.

  • Get an initial valuation

It may always be a good idea to receive an appraisal from some of the trustworthy pawnbrokers in Hatton Garden before you pawn your Rolex, be it is online or via appointment. While an initial valuation can help you to know the value that any high street pawnbroker is willing to provide you for your watch, it is essential for you to choose a reliable one who can offer you a fair and honest quote.

With expert evaluators at The Luxury Hut, you are more likely to obtain the most competitive quote right away, and ultimately, the highest amount of cash loan possible for your asset. The process is quick, secure and convenient.
To get started with it, fill up our online form, providing the details of your Rolex watch or call one of our associates on 0207 242 5411 to arrange an appointment for visiting our premises in Hatton Garden, London with your Rolex watch.