If you are looking to borrow money against your valuable antiques then our asset lending experts can help. They can quickly lend money against a whole range of items and will securely hold your items until the loan is repaid. Credit checks are not required and loans funds can be arranged very quickly.
What you should know about loans secured against antiques
Get a loan secured against your possessions
Do you need a loan urgently? Maybe you have to raise money for something important, and can’t get funding through the bank. Payday loans might be one solution if you need a small amount of money, but if you really need a serious sum, for example over £500, then your options are probably more limited. Rather than pleading with the bank, or even being forced to sell items for less than their value just to meet your goals, another option is to take out a personal asset loan against your valuables. Antiques in particular are a great way to borrow money, since they don’t usually depreciate in value, and this means that they will always be worth the original sum that you borrow.
What can I expect from borrowing against antiques?
If you decide that borrowing against your antiques can get you the money you need quickly, then you may still have some questions about what this loan means, how much you might expect for your antiques, and how long you will have to pay back the loan.
The first question that you need to consider is what a personal asset loan actually means. In this transaction, the lending company will take a pledge of a personal item of some value, and offer you a sum based on that value. There are no credit checks and no income requirements.
The second question involves the worth of the item. Naturally, you would not expect to get a loan of £1000 on an item which is only worth £500. In addition, the personal asset loan is usually only a percentage of the total value of the item. This means that something which is worth £1000 will generate a loan which is less than this sum.
The third question relates to the payment schedule for the loan. In most cases, the loan is only for a short duration, typically between three and six months. You may pay back the loan earlier, but the lenders could expect you to pay back the total amount of interest for the whole loan period, no matter when you pay the loan back. It is best to discuss the specific loan arrangements with your lender, as they can clarify their position on repayments, re-borrowing against items already pledged, or the interest rates they offer.
What antiques can I pledge?
Borrow against your antiques
The antiques market is constantly fluctuating, so things which were valuable last year may no longer be desirable. This means that the items that you pledge may shift radically in value as demand rises or falls. Of course, some items will always be valuable, such as Moorcroft pottery, silverware or gold, but you will need to have an assessor work out the value of your items before you can generate a loan.