A Personal Asset Loan
allows you to borrow money for up to two years (personal) or three years
(business), using a personal asset as security. The type of asset you can use
is very flexible, as long as it has a defined value. Typically you can use
watches, jewellery, vehicles, boats, art, antiques and wine collections. Any
item that can be valued and retained by the lender is acceptable. You can also
use property but a first charge is preferred.
- No credit checks are
- Loans can be arranged
quickly, some taking less than 24 hours
- On short loans you don't
pay interest until the end of the loan
- Longer loans will need interest serviced every 6 months
- There are no early
Is it like a Pawn Shop loan?
In some respects yes but it's easier and costs much less than that. Here's how it works:
- Tell us about the asset you wish to offer as security and how much it's worth.
- If it suitable for a Personal Asset Loan an expert valuation will be arranged.
- If the value is confirmed a loan contract is drafted and provisions are made to secure your asset.
- Finally, if everything is in order your loan will be paid out.
Rates available depend on the term of the loan, the nature of the asset and how quickly you want the loan but will range from 1-4% per month.
Your credit history and/or income is not a relevant factor in getting a Personal Asset loan as it all comes down to the value of the asset you offer as security. This means it can be a good option if you have had credit issues in the past or cannot currently prove your income.
For further information or to discuss your situation with us without obligation please either call us on 01494 410 125 or complete the form opposite and we will call you.
Are you looking for Personal Asset Finance?
Just complete a few simple questions below and we'll be in touch soon to get things moving.
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What is needed to apply
Applying for a Personal Asset Loans is very easy. Below are listed the things you need in order to apply.
- Eligibility Criteria All you need is an asset of value that you are prepared to offer as security for the loan.
- Documents Required The asset will need to be valued and there may be a fee for this.
- Additional Comments The process can take as little as 24 hours to get you funded but if you can afford to wait a week or so, better rates can be achieved.
- I have a poor credit history, is this a problem?
No, definitely not. As long as you have an asset of sufficient value for your loan, your credit score is irrelevant.
- How much will this cost?
Interest is applied on a monthly basis and is typically between 1.5-3.5% per month depending in the nature of the asset and how quickly you need the funds to be in place.
- Will I have to pay monthly installments or interest payments?
Not necessarily. All interest charges can be rolled up and charged to you in one go at the end of the loan but if the loan is for more than 6 months you would need to service the interest every 6 months.
- How long can I have the loan for?
If it's a personal loan then the maximum is 2 years and you will be required to service interest every 6 months. If the loan is for business purposes then it can go to a maximum of 3 years but will require monthly repayments.
- How do I get my asset to you?
A free insured service is used for portable assets or for higher value items the valuer can go to you. Any immovable asset (e.g. land or property) is secure with a charge.
- Where will my asset be stored for the duration of the loan?
All assets are held securely in a location dependent on and appropriate to the nature of the asset. They will also be fully insured for the duration of the loan.
- How quickly can this be arranged?
It can be done in 24 hours but better rates are available if you can wait 1-2 weeks.
To learn more or to apply for a Personal Asset Loans please either ﬁll in the call back form at the top of this page or call us on 01494 410 125 and we'll walk you through your options at no cost or obligation.