What is a typical pawnbroking transaction at Albemarle & Bond?
A typical pawn broking loan is secured by gold jewellery for a period of up to six months. Monthly charges on the loan are typically 6-7.9%. There is technically no limit to the amount of the loan but we issue a high volume of low value loans with an average loan value of 140. The loan period is for up to six months during which time the customer can collect their jewellery which is safely stored, by repaying the loan and the interest owing at any time. No credit checks or application form is required, and unlike many lending businesses, the customer’s credit rating is not affected if they are unable to repay the loan.
