Finally, pawning is faster and less restrictive than a bank loan. When preparing the file, only an identity document, proof of address and the object of the pledge are requested. No investigation by the bank. "With pawnbroking, we have a true social vocation," summarizes the company’s representative. With the decline in purchasing power, people are increasingly using pawnbrokers. These consumer loans are able to meet cash, a hardship or unexpected demand at relatively attractive rates. Fish pawnbrokers have many UK pawn shops where you can go and have a look.

The representative at Fish Pawnbrokers explained the principle of pawnbroking which they follow, “To obtain a loan, simply deposit a valuable item: jewellery, furniture, sculpture, silverware, musical instrument, bicycle or even a watch. To avoid fraud, the identity of the applicant is systematically verified. For example, a man cannot place female jewellery without a proxy or identity document of the person represented. The loan is usually granted within one hour. Each item is valued by an independent auctioneer. The amount of the proposed loan generally represents 50 to 70% of the estimated value of the object in the public auction market. Interest rates are calculated per unit of value.” He further gave an example, “You want to get a loan for a piece of jewellery. After examination, this is estimated at £2,000. The loan amount proposed to you is 60% of this value, ie £1,200 at the annual rate of 15.40%, including custody and insurance. If you accept these conditions, a nominative contract is signed for a period of one year and you immediately recover the sum of money. You can pick up your item at any time. In the meantime, your piece of jewellery is carefully guarded in a vault.”

You can learn more about Fish Pawnbrokers on their website. They have been active since 2009 and have gained the trust of their customers ever since. They are one of the leading pawnbrokers in UK with many outlets of UK pawn shops.