Pawnbroking is the oldest form of borrowing cash, and the evidence of its use dates back to more than 3,000 years ago. The process and idea are simple that worked well, and has stood the test of time. The Luxury Hut pawnbrokers London provides a simple, secure and hassle-free way to apply for a pawnshop loan. We always strive to ensure that the process is convenient as possible.
Are you thinking to apply for a pawn loan? Is it the first time? Then, you will surely have many questions about what a pawnshop loan is, how it works, what you need to have to get it, and more. So we have put together some commonly asked questions on pawnbroking to help you by taking you through all the basics.
A ‘pledge’ refers to any item of value that you used as security – also referred to as collateral -against a pawnbroking loan. It can be a luxury watch, gold, diamond jewellery, a car and more.
In pawnbroking, the concept of a pledge is that its value will be enough to cover the loan amount, interest or any cost outstanding in case the customer do not repay the loan for any reason.
When you repay the loan after the loan term ends, you will get back your pledge.
Pawnbroking is a quick, easy and secure way to borrow money against an item of value that you own. At The Luxury Hut, we lend against high-end luxury watches, diamond and gold jewellery or any gold item.
The loan amount you are likely to secure depends solely on the value of your collateral. Pawnbrokers will not check your credit score or how much you earn.
The maximum loan term is usually six to seven months. However, you can pay off the loan any time during your loan tenure and redeem your asset.
You can pawn virtually any item of value. However, the things accepted as collateral for a pawn loan typically vary from one pawnbroker to another.
At The Luxury Hut, you can secure a loan against luxury watches, diamond jewellery, loose diamonds and gold (jewellery, scrap gold or any gold item).
Opting for a pawn loan is always a better choice than getting a personal loan. Why? Here are some of the significant advantages:
A pawn loan gives you access to cash instantly, unlike other loan types that usually take a couple of weeks to approve. You will only need an item of value to keep as security.
At The Luxury Hut, we will appraise your asset and offer you a cash loan, even if your credit score is poor. Accept our offer and get paid on the spot.
Unlike banks or any financial institutions, a pawnshop loan requires minimal paperwork for approval. Here at The Luxury Hut, we only ask for valid proof of identification to get into the agreement. And after you accept our loan offer, you will have to sign a pledge receipt that outlines your loan terms. That’s it.
From visiting our pawn shop in London, getting a quote, to walking out with your cash, the entire pawnbroking process may take as little as an hour to complete.
Pawnbrokers do not check credit score or how much you earn before approving a loan. As long as you have a precious item to use as collateral, you can opt for a pawnshop loan.
Pawnbroking allows you to retain ownership of your asset, and it significantly matters if you have a strong emotional attachment with the item.
Whenever you need to secure some fast cash or in short-term financial needs, you can choose to unlock the value of your asset by getting a pawn loan. You can get a pawn loan and cash in your hand within a few minutes.
As we mentioned earlier, pawnbroking allows you to instantly borrow the money you need against a precious item without any credit check.
Moreover, you do not also have to go through a lengthy application process to get the loan. The asset you keep as security will determine the amount you can borrow from the pawnbrokers in London at The Luxury Hut.
Our interest rates vary from 4% – 6% per month. Take a look at the representative example given below –
Representative Example 1: Loan of £6000 borrowed for three months
Total interest for three months – £900
Representative Example 2: Loan of £500 borrowed for one month
The amount you can borrow and that we are willing to lend will depend on the value of your collateral. However, the minimum amount of cash loan you can borrow from The Luxury Hut pawnbrokers London is £300.
Fill in our online form providing all details on your asset. We will contact you immediately with a loan quote via phone or email. Alternatively, you can call us on 0207 242 9160 now for an instant valuation over the phone.
At The Luxury Hut, the maximum term for a pawnbroking loan is seven months.
You can retrieve your collateral at any time during your loan term, provided you pay off the entire loan amount and the interest due. We do not charge any early retrieval fees.
Yes. We will store your asset securely in our safe until you come back to repay your loan in full and collect it.
If you cannot repay and collect your pledge within the agreed time for any reason, we can offer you a choice to renew your loan. This means we can extend your loan agreement for seven months for another seven months. You only have to pay the interest due at the end of the contract. And this will not affect your credit score.
However, it is recommended to repay and redeem your asset within the agreed loan term.
Yes. The Luxury Hut pawnbrokers in London are regulated by the Financial Conduct Authority (FCA). Thus, we abide by the applicable rules and guidelines issued by the FCA for pawnbroking. We are also a part of National Pawnbrokers Association (NPA).
For any further questions or concerns, you can contact us on 0207 242 9160.
The Datejust is one of the cornerstones and longest-running watches in Rolex’s catalogue. Since its inception in 1945, the Datejust has appealed to global collectors with its classic everyday-go-to design and aesthetics. Today, this revolutionary model is available in different case sizes, bracelet options and materials.
Rolex designed the first waterproof case in 1926 and the innovative perpetual movement in 1931. The interesting fact is that Rolex furnished the iconic Datejust with all these ingenious features and added date functionality. All these factors eventually contributed to the incredible success and desirability that Datejust enjoys today both in the retail and pre-owned market.
So is the Rolex Datejust a good investment? Continue reading below to determine whether or not this Rolex watch is a good investment and some common questions related to the Datejust.
However, if you are looking to get a loan against a Rolex watch, get in touch with the trusted pawnbrokers online at The Luxury Hut. Fill up a simple online form and receive a free competitive loan quote.
It’s no secret that Rolex Datejust is one of the most famous models in the world. Its timeless design has sustained more than half a century being on the trend. And it is continuing to accompany and complement the wrists of men and women globally today.
However, this iconic watch is considered the archetype of all other Rolex watches.
Moreover, besides sporting a timeless, fashionable design, the watch ensures complete accuracy running on Chronometer-certified movements. And you cannot miss considering Datejust’s glorious history when looking for the reasons behind its unrivalled popularity.
Whatever model you choose, vintage or modern, the Rolex Datejust looks excellent. It has graced the wrists of many great and famous personalities, including Winston Churchill and Paul Newman.
The straightforward answer to the common question ‘is the Rolex Datejust a good investment’ is – yes.
Virtually all Rolex watches hold their value well with time. The brand’s acclaimed legacy, exclusivity paired with top-notch quality ensures that a Rolex watch will stand the test of time in style, precision and performance. And the Datejust is no exception.
Rolex continues to produce the Datejust to date, and it yet enjoys fame as one of the most successful Rolex watches. The watch is expected to remain a popular choice among collectors worldwide in the coming days, years and even decades from now.
Moreover, the vintage Datejust watches are yet in trend. Potential watch buyers and collectors are often willing to pay top prices for older Datejust models with appealing history and character. Together with the enduring design, all these aspects enable the Rolex Datejust to hold its value for the long-term.
The Rolex Datejust has increased in value by over 200% between 1994 and 2016. The average growth has been nearly 4.6% each year over the past 10years.
Considering the huge demand for Rolex watches across the world, you can be pretty sure that this trend will continue. Rolex seems to be heading towards taking over a higher price point in the luxury watch industry.
Thus, those who are looking to invest in a Rolex Datejust can proceed with confidence. However, while Rolex watches retain good value with time, they can serve as an excellent asset to use as collateral for a pawn loan.
So if you want to raise instant cash and own a Rolex watch, get a loan against your watch from the professional online pawnbrokers at The Luxury Hut. We lend against all Rolex watches.
Fill up our online form and get a free quote for a loan against Rolex. Or call on 0207 242 9160. We do not carry out any credit checks and pay immediately via bank transfer. Rest assured, you will secure the highest possible amount of cash loan against your luxury watch.
© The Luxury Hut is a trading name of Golden Cash Limited. Authorised and regulated by The Financial Conduct Authority for pawnbroking. Registered in England as Golden Cash Limited. Registered Number is 07309335. Registered office address: Treviot House, 186-192 High Road, IIford, Essex, IG1 1LR. Designed and Developed by The Luxury Hut. All Rights Reserved 2018