Loan Goods
What do we loan against?
We loan against any items made with silver, gold or platinum. This includes almost all kinds of jewellery such as rings, bracelets, necklaces, chains, broaches, pins, ear rings, ingots, class rings, cuff links etc. We also loan against precious stones and items such as watches. Click here for more info. Back to top
Is there a minimum value of item that we will lend against?
No, but as a rule, we will lend against an item that has a secondhand value of more than £200. The secondhand value is how much you would get selling the item on the open market, not how much it cost to buy new. If you’re not sure, either send us an email with as much detail about the item as possible and we’ll let you know if we can lend against it, or why not check what similar items have sold for on eBay. Back to top
How do I know if my item is made of precious metal?
Look for a small stamp on the item, often found on the inside of rings or on the clasp of a chain or earring. Some of the more common stamps say 10Kk, 14kt, 18kt, 583 or 750. If you can’t find the stamp but you sincerely think an item may be made of precious metals, provide us with as much detail as you can in the first instance and we will value it. Back to top
Does it matter if my items are broken, incomplete or out of fashion ?
For items such as watches, goods in working order will achieve the best value loan. However, for jewellery and precious metals/stones, we loan against the weight and quality of the item (e.g. the size of the diamond or the weight & quality of the gold that makes up the item) so we are still able to loan against broken or incomplete items. So, for example, if your watch is broken but is made up of precious metals or stones we may still be able to offer you a loan against it. Back to top
Can I use your service to value my items?
No. We cannot give you a valid valuation for insurance or any other purpose. Please only send in items you are interested in using to secure a loan against. Back to top
How will I ship the item to you?
The Royal Mails Special Delivery Courier Service is used for all items with a second hand value of under £2500. This service is fully insured, fully tracked, and electronic proof of delivery. Click here for more info. We will send you a Special Delivery Envelope and ask you to drop-off it off with your item at your nearest Post Office. Back to top
What will the shipping cost me?
If you want, we will send you a Special Delivery Courier service envelope – this will be a freepost envelope so there is no upfront cost for you. The cost will be added to the amount you pay-off at the end of the loan. For a 500g package that will arrive at us by 1pm the next day this will cost less than £5. Please click here for more details. Back to top
Where is my nearest Post Office?
Click here for the post office branch locator. Back to top
Where will my item be stored?
Your item will be stored in vaults at Sutton’s and Robertson’s premises. These vaults have been used for this purpose for over 100 years. Back to top
What happens if my goods get lost or are stolen?
This is very unlikely to happen. If it does, your item is fully insured from the moment you hand it over to the delivery service provider (Royal Mail Special Delivery or DHL) to the moment that you sign for your goods once they have been returned to you after you have paid-off your loan. If in the unlikely event the goods get lost or stolen we will recompense you according to the secondhand value. Back to top
Loan Application Process
How quick is the process?
If you send us your goods today we will value them tomorrow, and you will receive your cash the same day. Back to top
Will my credit rating be affected?
No. We carry out identity checks as part of our legal compliance as a financial service provider but this is not a credit check. Your credit rating remains unaffected. Back to top
How do I qualify for a loan?
To qualify for a loan you must meet the following criteria:
- You are the legal owner of the Item(s) that you wish to borrow against
- You are at least 18 years old
- You are able to provide suitable proof of identification including a passport number or driving license and utility bill details
- Your Item(s) are free of any and all claims, liens, or anything else that might adversely affect the value of your Item(s) or your ability to borrow against it, such as a hire purchase agreement
- You are located in the United Kingdom and are legally capable of entering into a binding agreement such as this one.
- You are not acting as another's agent or representative for this sale
See here our full Terms & Conditions. Back to top
Why do I need to provide proof of identification?
Our loans must adhere to the OFT requirements of the Consumer Credit A License. Proof of identification is one of these requirements. Back to top
Why do you need to collect my address details?
There are two reasons. The first is for ID purposes. The second is so that we know the address to send your item back to when you pay-off your loan. Back to top
How safe is it providing you with my details such as my bank account number online?
We take the security of your details very seriously and all sensitive information is collected through a secure area of our website. Any details collected are encrypted and subject to our documented privacy policy. Back to top
The Loan
How much do you lend?
We will typically lend you 40% of the secondhand value of your item. This is because we want you to pay your loan off and get your item back. Back to top
What interest rate will I pay?
You will be charged 6% a month for loans up to £1000. We will provide you with a specific quote for loans above that amount.
In what circumstances should I use Borro?
If you want to borrow money for 1-6 months Borro is the cheapest available service. Back to top
What is the duration of the loan?
The duration of the loan is 6 months. Back to top
Can I payback my loan early?
Yes you can payback your loan at any point in time. Once you have paid back your loan you will receive your item back within 2 days. Back to top
Can I extend my loan?
Yes. To extend the loan at the end of your initial 6 month term, you will need to payback the interest that you have accrued. We will then create a new agreement for the amount that you have borrowed. Back to top
Can I change my mind about taking out a loan?
Once we have received your item(s), we will carry out a detailed valuation and provide you with a loan offer, including full details of terms and conditions and interest rates. You can then choose whether or not to take out the loan. Once you have contacted us to accept the loan, this then becomes a binding credit agreement which you will need to honour. Back to top
Why are you better than a high street pawnbroker?
There are three benefits. Firstly we will more accurately value your goods than the majority of high street pawnbrokers, this means that typically we can lend you more. Secondly, our monthly interest rates are lower. Thirdly, our service is online and is therefore discreet.Back to top
Receiving Cash
When will I receive my cash?
We have made the loan process quick and easy to make sure that you receive your loan as soon possible. Once we have received and valued your item(s) and you have agreed to take out the loan, we will transfer the funds directly to your bank account (most major banks are now able to accept same day transfers - please check with your bank). You will receive an email notifying you that the loan has been credited to you. Back to top
Can you transfer cash to my PayPal account?
Yes. Please provide us with your PayPal email address and tell us you want the cash transferred here. Back to top
I don’t have a bank account. Can I still get a loan?
We can send you a Postal Order for your loan amount. Postal Orders are secure and now carry your name so only you can cash them, just like a cheque. There is a charge to receive your money via a Postal Order, this will form part of your redemption fee. The charge is not added to your loan amount and will not be subject to interest charges. Back to top
Paying-off your loan
How do I pay off my loan?
You can transfer money into our bank account from either your bank account or your PayPal account. We will provide you with a unique reference number. Back to top
How quickly will I receive my item back?
Once we have received your payment, we will immediately ship your item back to your home address. You will receive the item by 1pm the next day. You will need to sign for your item. Back to top
How will the item get shipped to me?
We use the Royal Mails Special Delivery Courier Service for all items with a second hand value of under £2500. This service is fully insured, fully tracked, and electronic proof of delivery. Click here for more info. Back to top
What proportion of people pay-off their loan?
“Around 88% of loans are redeemed – it is not in the lender’s interest for items not to be redeemed” Daily Express Back to top
If I don’t pay-off my loan will my credit rating be affected and will I have a bad debt?
No. If you don’t pay off your loan, your credit rating is not affected and there will be no bad debt. We simply sell your item to recover the amount you borrowed, the outstanding interest and any costs incurred in selling the item, such as auction fees. We will send you any surplus. Back to top
