as seen| € | Euro | Reserve Now | |
| $ | USD | Reserve Now | |
| *only available when reserved online and collected in store. | |||
Pawnbroking
Services
Pawnbroking is the lending of cash against an item of security deposited with a pawnbroker. As it is your own property that secures the loan, in a way it is like borrowing from yourself!
your loan
is instant
is clear and straightforward
| 1 | Leave an item of value with us as security and agree your loan amount |
| 2 | Sign your loan agreement |
| 3 | Receive your cash - or have the funds wired directly to your bank account (available within 2 hours) |
| 4 | Repay anytime you want within 7 months and collect your goods |
| 5 | If you do not repay your loan by the end of the contract period your goods may be sold and you will incur no further debt, even if we sell the goods for less than you owe. However, if there is a surplus on the sale (ie. cash left over), you are entitled to this and we will contact you and ask you to come and collect it |
What items can I pawn?
We will lend against anything that has a value! Typical items are listed below.What will the loan cost me?
We offer 7 month cash loans secured against items of value. Please note you can redeem your item at any time from day 1 to month 7. Take a look below at our Representative Example. Sums from £5 to £50,000 available.
Making part payments
If you take out a loan with Pickwick Jewellers and Pawnbrokers, we encourage you to make part payments against your loan - you can do this in-store, or for part-payments up to £250.00, by telephone. This will not only reduce the amount you owe, but will reduce the overall cost to you by reducing the amount of interest you will ultimately pay. You can of course make an early redemption of the whole contract at any time.
If you pawn more than one item on a single loan agreement you will not be able to redeem them separately, so please also note that if you wish to place more than one item on a single pawn contract, you do need to take into account that any part payments you make are taken against the debt as a whole and not a particular single item within the contract. We advise that you consider this carefully when pawning more than one item and if you wish, we will always be happy to pawn individual items on individual tickets if it helps you. Our staff will be happy to assist you in this regard and as ever, if you have any questions at all about your transaction, please do ask us at the time, or anytime.
Renewal Policy
At the end of a pawnbroking agreement with Pickwick Jewellers and Pawnbrokers, you will have FOUR options available to you -
| 1 | Come in store and redeem your goods – Pay what you owe and collect your goods. |
| 2 | Come in store and renew your agreement – Pay the interest owed to date and refinance the original loan to a new loan. Please think about paying off some of the loan at this time. Our recommendation is try to pay off as much as you can reasonably afford. We do not insist upon part repayment at the time of renewal, or after, but we do urge you to consider the benefits and advantages of doing so. You can make part-payments throughout the 7-month term of the new loan of any amount, in-store, or up to £250.00 over the phone. |
| 3 | Take no further action and let your goods be sold – Your goods will be sold and you will incur no further debt, even if we sell the goods for less than you owe. However, if there is a surplus on the sale (ie. cash left over), you are entitled to this and we will contact you and ask you to come and collect it. |
| 4 | Request a 1-month extension hold – If you need just a short extra bit of time to be able to deal with your loan then please speak to a member of staff who will usually be happy to hold your items for a further 1-month from expiry. Please note that interest on the loan will continue to run during this period. |
The decision whether to redeem, renew or let your goods go is entirely your choice and as a much valued customer, Pickwick wants to ensure that the most options are always available to you. As we know you value your items, the restoration and protection of your property is important to us, but at the same time, we wish you to manage your loan with Pickwick as best you can. This is why, whether it is at renewal, or simply during the lifetime of your loan, we always urge you to make a part payment, or series of part payments for as much as you can afford as this reduces both the interest and the loan itself. For more information about making part payments, please do not hesitate to speak with a member of our staff.
| Amount of credit | Period | Total amount payable |
Monthly Interest Rate |
| £300 | 7 months | £510.00 | 10% (fixed) |
| Representative 148.3% APR (fixed) | |||
Our loans tend to be fairly small sums for short periods of time - though we can make loans up to £50,000 and you have a full 7-months term. You can repay your loan at any time during the term - the shorter time you have the loan the cheaper it is for you. For example, if you borrow £100 for 5 weeks at 10% (fixed) monthly interest you will repay just £115.02 APR 148.3% (fixed).
| Amount of credit | Period | Total amount payable | Monthly Interest Rate | |
| £600 | 5 weeks | £678.51 | APR 122.4% (fixed) | 8.49% (fixed) |
| £600 | 15 weeks | £791.25 | APR 122.4% (fixed) | 8.49% (fixed) |
| Amount of credit | Period | Total amount payable | Monthly Interest Rate | |
| £2,500 | 5 weeks | £2,742.19 | APR 82.4% (fixed) |
6% (fixed) |
| £2,500 | 15 weeks | £3,078.19 | APR 82.4% (fixed) | 6% (fixed) |
| Loan Value | Interest charge (simple monthly fixed) | APR% (fixed) |
| £1 - £499 | 10.00% | 149.3 |
| £500 - £1,999 | 8.49% | 122.4 |
| £2,000 – £4,999 | 6.00% | 82.4 |
| £5,000 - £9,999 | 5.00% | 67.2 |
| £10,000 and upwards | 4.00% | 52.6 |
| 1 | Loans from £5 to £50,000 |
| 2 | You only pay for the number of days you have the loan. You can make part payments on loans - including up to £250 by telephone |
| 3 | All loans available for up to 7 months |
| 4 | All loans are renewable (but we would encourage you to repay at least 10% of your loan at the same time where you are able to) |
| 5 | Property never becomes Pickwick Jewellers and Pawnbrokers - if you choose not to repay, when the property is sold, you get any surplus on the sale |
Early Repayment and Making Part Payments
The Consumer Credit (Eary Settlement) Regulations 2004 (as amended) by the Consumer Credit (EU Directive) are regulation changes that came into force from 1 February 2011 and your loan redemption is based on this prescribed calculation to ensure legal compliance and accuracy.
Included in the regulation changes, were rights giving consumers the opportunity to make partial early repayments in addition to the existing right of full early settlement. Pickwick follows these early settlement rules and encourages customers to better manage their loans by making part payments to reduce their debt and the interest on the debt, whenever they can afford to do so. Pickwick has long believed in the customers legal rights and options that make their pawnbroking loans as affordable as possible and if you want to discuss repayment of your loan at any time and better management of the loan throughout its’ term, please do not hesitate to contact us.
Have a question?
Have a question about pawnbroking? Click here to read answers to those most commonly asked
