Loan Items - Questions
- Q.What items can I use as collateral for a pawnbroker loan?
- Q.What items of jewellery can I get a pawnbroker loan against?
- Q.What watches can I get a pawnbroker loan against?
- Q.What kind of antiques do you do pawnbroker loans against?
- Q.What kind of artwork do you do pawnbroker loans against?
- Q.What other items do you do Pawnbroker loans against?
- Q.What items do you NOT do Pawnbroker loans against?
- Q.Is there a minimum value of item that you will do a pawnbroker loan against?
- Q.Is there a maximum value of item that you will do a pawnbroker loan against?
- Q.How do I know if my item is made of precious metal?
- Q.How does the Hallmark system work?
- Q.What if my items are old, broken, incomplete or not in fashion?
- Q.How will I get my item(s) to you?
- Q.How will you return my items back to me?
- Q.Will shipping the items both to and from Unclesmoney, cost me?
- Q.Where is my nearest Post Office branch?
- Q.Can I track Special delivery item in transit?
- Q.Where will my item be stored for the duration of the loan?
- Q.What happens if my goods were to get lost or are stolen?
Loan Application Process - Questions
- Q.How quick is the online pawnbroking process?
- Q.How do I qualify for a pawnbroker loan?
- Q.Do you perform credit checks?
- Q.Will NOT repaying my online loan affect my credit rating?
- Q.What checks do you run?
- Q.Why do I need to provide proof of identification when obtaining a pawnbroker loan?
- Q.Why do you need to collect my address and other personal details?
- Q.Will my personal details, such as passport number, bank account details and date of birth be held securely?
The Loan - Questions
- Q.How do you value my items?
- Q.Unclesmoney lend against the 'resale price' of an item. What is that?
- Q.How does Unclesmoney value jewellery?
- Q.How do Unclesmoney value watches?
- Q.How do Unclesmoney value antiques?
- Q.How do Unclesmoney value artwork?
- Q.What interest rate will I pay on my pawnbroker loan?
- Q.In what circumstances should I use Unclesmoney?
- Q.What is the duration of the pawnbroker loan?
- Q.Can I pay back my loan early?
- Q.Are there any early repayment charges?
- Q.Can I extend/renew my loan?
- Q.What if I change my mind about taking out a loan?
- Q.Why is Unclesmoney better than a highstreet pawnbroker?
Receiving Cash - Questions
Paying-off Your Loan - Questions
- Q.How do I pay off my pawnbroker loan?
- Q.How quickly will I my pledged item be returned after I have repaid my loan?
- Q.How will the item get returned to me?
- Q.What proportion of people pay-off their pawnbroker loan?
- Q.If I don't pay-off my loan how will my credit rating be affected and will I go to court?
What items can I use as collateral for a pawnbroker loan?
We loan against most items of value including:
- Gold and platinum jewellery
- Fine luxury watches
- Valuable antiques
- Valuable artwork
- Scrap gold
Click here - for some examples of items we loan against.
What items of jewellery can I get a pawnbroker loan against?
Mainly Gold, Platinum and Diamonds, including but not limited to:
- Brooch/ Pins
- Charm / Charm Bracelets
- Hair / Head Jewellery
- Necklace / Choker
- Pendant / Locket
- Cuff links
What watches can I get a pawnbroker loan against?
- Audemars Piguet
- Baume et Mercier
- Frank Muller
- Gerald Genta
- Jaeger Le Coultre
- Patek Philippe
- TAG Heuer
- Ulysse Nardin
- Vacheron Constantin
Unfortunately, Unclesmoney do not provide loans against fashion watches,
only luxury, fine watches featured in the list.
What kind of antiques do you do pawnbroker loans against?
We loan against many different types of antiques, from Amulets to Cameos to Swords. Due to the nature of antiques, the minimum level of lending is £2000.00.
What kind of artwork do you do pawnbroker loans against?
We loan against a variety of artwork including paintings, prints, drawings and sculptures. For more information or to request a valuation, contact us by freephone on 0800 917 4626.
What other items do you do Pawnbroker loans against?
We are always looking at high value items, such as private jets, yachts etc., so if you believe you have something of value, please contact our team by freephone on and we will be more than happy to help.
What items do you NOT do Pawnbroker loans against?
At the moment we do not loan against:
- Silver jewellery, unless it contains sizeable diamonds.
- Cars, unless very rare and valuable.
- Electrical items like laptops, stereos, TVs etc.
- Passports (yes, we do get asked this quite often!)
Is there a minimum value of item that you will do a pawnbroker loan against?
Our minimum online loan amount is £50.00.
Is there a maximum value of item that you will do a pawnbroker loan against?
Our maximum loan value of an item is £1,000,000.00.
How do I know if my item is made of precious metal?
Most items of precious metal jewellery contain some sort of Hallmark.
Most Gold items will be hallmarked with the following:
Hallmarks are small markings stamped onto precious metals - gold, silver and platinum articles. Hallmarks mean an article has been independently tested and guarantees that it conforms to all standards of purity (fineness.)
Hallmarking is an ancient method of safeguarding consumers, and the word itself, stemming from 'marking goods at the (Goldsmiths) Hall', has its origins far back in time.
Hallmarking involves testing articles made of precious metal and marking them to indicate that they are of a minimum standard of purity.
Nowadays hallmarking is carried out in the UK not only by the London Assay Office at Goldsmiths Hall, but also by the Birmingham, Edinburgh and Sheffield Assay Offices.
The above symbols represent the hallmarks for the relevant assay office in the UK and are accompanied by the following purities:
- 375 = 9 carat Gold
- 585 = 14 carat Gold
- 750 = 18 carat Gold
- 916 = 22 carat Gold
Most platinum sold in the UK is 95% pure. It will thus have hallmarks with the figures 950, denoting the purity, and may bear another quality mark, the Orb.
To date, palladium does not require hallmarking, but is becoming a more popular choice of precious metal jewellery.
If you can't find a hallmark, but believe the item is made of a precious metal, then we are able to test the item for purity and type.
For more information on hallmarking please visit The Assay Office website. www.theassayoffice.co.uk
What if my items are old, broken, incomplete or not in fashion?
If antiques, watches or jewellery are broken then this will decrease the resale value of the item and hence the loan value of the item. In the case of jewellery, both scrap and broken items can be loaned against and there is still value in the precious metal.
How will I get my item(s) to you?
We will send you an insured Royal Mail Special Delivery envelope with all the necessary addresses already printed for you to send us your items. All you need to do is follow the instructions that have been posted to you.
If you value your item over £5000.00 then we will arrange for a special courier service to collect the item on our behalf.
How will you return my items back to me?
Your items will be returned to you by insured Royal Mail Special Delivery, all provided by and paid for by Unclesmoney.
Will shipping the items both to and from Unclesmoney, cost me?
Absolutely not. All our shipping is via fully insured Royal Mail Special Delivery paid for by us!
Where is my nearest Post Office branch?
Visit the Branch Locator to find your nearest Post Office. http://www.postoffice.co.uk/portal/po/finder?catId=20700386
Can I track Special delivery item in transit?
All items shipped to or from us are fully trackable online. Please visit the Post Office’s Track and Trace page and type in the code provided to track your item. http://track.postoffice.co.uk/portal/po/track?catId=20700386
Where will my item be stored for the duration of the loan?
All pawned items are stored in our secure vault, accessible only by the Unclesmoney staff.
What happens if my goods were to get lost or are stolen?
In over 30 years of business, this has never happened. If it does, your items are insured from the moment you hand them over the counter at the Post Office, to the moment that you sign for your goods upon return delivery.
Loan Application Process
How quick is the online pawnbroking process?
The online pawnbroking process can be completed in under 24 hours. If you get your goods to the post office before 4pm on any day of the working week then we should receive your item before 12pm the following day (excluding Saturdays). Once your item has been valued, an official offer will be made. If our offer is accepted, your pawnbroker loan agreement is digitally signed and your loan money will be transferred online straight away (this take approximately 1 hour for electronic transfer).
How do I qualify for a pawnbroker loan?
You warrant and represent that you have good and marketable title to your property, free of all encumbrances of any kind, and that you are not under the age of 18 years. You must be able to produce adequate forms of identification such as a driver’s license or passport.
Do you perform credit checks?
Unclesmoney do not perform credit checks. Your item is provided as security for your loan, making performing a credit check unnecessary.
Will NOT repaying my online loan affect my credit rating?
Not repaying your online loan has absolutely no affect on your credit rating. The item you have provided as collateral for your loan will simply be sold to recoup the cost of the loan. The difference will be returned to you.
What checks do you run?
As a financial service provider, we are by law required to run an identification check.
Why do I need to provide proof of identification when obtaining a pawnbroker loan?
As a financial service provider and holder of a Consumer Credit License, we must adhere to requirements set out by the Office of Fair Trading. Proving your identification is one of these requirements.
Why do you need to collect my address and other personal details?
Your address is required to send you a Royal Mail Special Delivery envelope for your items. This information is also used to help verify your identification.
Will my personal details, such as passport number, bank account details and date of birth be held securely?
The security of any details you provide are of the utmost importance to us. All data collected over the internet is stored in our secure encrypted website.
How do you value my items?
In order to value your items, we take the following into consideration:
- the general condition of the item
- its age
- what we believe would be the current market resale price
We base our formal offer on this value. Typically we loan between 40% - 75% of the resale value.
Unclesmoney lend against the ‘resale price' of an item. What is that?
The resale price is what we would expect to get for the item if it were to be sold today, at current market values, and not a replacement valuation that you would expect to get for insurance purposes.
How does Unclesmoney value jewellery?
Jewellery is valued based on the weight of the precious metal (i.e. 10 grams) and its purity (i.e. 9ct, 18ct or 22ct). Diamonds and valued based on the 4 C’s: Carat, colour, cut and clarity. How sort after or how rare the item is, is also taken into consideration.
How do Unclesmoney value watches?
We assess the current market value of your watch based on its condition, popularity etc. We don't typically loan more than 40% of the resale value of watches.
How do Unclesmoney value antiques?
We assess the current market value of your items based on its condition, popularity etc. We don't typically loan more than 50% of the resale value of antiques.
How do Unclesmoney value artwork?
We assess the current market value of your items based on its condition, popularity etc. We don't typically loan more than 50-75% of the resale value of artwork.
What interest rate will I pay on my pawnbroker loan?
The interest rate you pay will depend upon the resale value of your item and the amount being loaned. For short-term money lending, check out our low monthly interest rates:
- For loans between £1000 - £5000, Unclesmoney charges are 4% simple interest per month (53.8%APR). For loans between £500 - £1000, Unclesmoney charges are 5% simple interest per month (69.0%APR). For loans between £50 - £500, Unclesmoney charges are 6% simple interest per month (85.0%APR).
These pawn loan rates are extremely attractive when compared to alternatives such as payday loans, unplanned overdrafts, and local highstreet pawnbrokers.
For loans over £10,000, we can negotiate the interest rates.
In what circumstances should I use Unclesmoney?
If you require a short-term loan to cover unexpected expenses, to help with debts, pay bills, deposits or anything else requiring cash quickly.
What is the duration of the pawnbroker loan?
Typically 6 Months, though you can extend or renew your loan under specific circumstances.
Can I pay back my loan early?
Yes you can, with no early repayment charges, in fact you are rewarded with a lower monthly interest rate if you decide to pay off your loan early.
Are there any early repayment charges?
Nope! There are absolutely no charges for repaying your loan early.
Can I extend/renew my loan?
Yes you can, simply pay the interest owing at any given time and your pawnbroker agreement will be renewed for a further 6 months.
What if I change my mind about taking out a loan?
You have the right to cancel your loan application at any time prior to signing our agreement, after which you have your right to cancel our agreement as set out in the terms and conditions of on our website - on the expiry of fourteen calendar days beginning with the day after the day on which the service agreement is concluded (‘the cancellation period’).
Why is Unclesmoney better than a highstreet pawnbroker?
We are cheaper than high street pawnbroker, we have the best loan to resale value in the industry. Been an online service is also a very discreet way of using a pawnbroker loan.
How soon will I receive my cash?
You cash will be transferred as soon as the agreement is digitally signed, unless told otherwise. We'll electronically transfer the funds direct from our bank account to yours. This normally takes approximately 1 hour.
Paying-off Your Loan
How do I pay off my pawnbroker loan?
Your loan can be paid off by credit, debit card, with a cheque, or with cash..
How quickly will I my pledged item be returned after I have repaid my loan?
The item will be shipped back as soon as we have cleared funds
How will the item get returned to me?
Your item will be returned using insured Royal Mail Special Delivery. This is all provided and paid for by Unclesmoney.
What proportion of people pay-off their pawnbroker loan?
Approximately 92% of our loans are paid off and have their items returned.
If I don't pay-off my loan how will my credit rating be affected and will I go to court?
Your credit rating is not affected if you don’t pay off your loan. You will not be required to go to court.
Who is Unclesmoney?
Unclesmoney is the online trading name of Uncles the Original Pawnbrokers Ltd.
Unclesmoney the Original Pawnbrokers has been trading for over 30 years with a combined 150 years of pawnbroking experience.
How can I contact you?
Please go to our contact us page for more details.