Mays Pawnbroking Across Greater Manchester
As a member of the National Pawnbrokers Association, Mays guarantees a fast, confidential and professional service, offering instant loans between £10 and £50,000.
The pawnbroking industry has been in operation for centuries, but the concept still causes quite a lot of confusion.
So why not call into your local store today for a chat with a friendly member of our team. Alternatively, you can make an enquiry through our website.
It Couldn't be Quicker or Easier
If you’re unfamiliar with the concept of pawnbroking, here’s a breakdown of how we do things:
At Mays, we always endeavour to lend you the amount that you are expecting to borrow against your item by using the knowledge and skill of our experienced valuers.
If you’re unable to drop into your local store, we’re more than happy to give you an estimated loan valuation via email.
Get a Quote for your Item
Collecting your Jewellery
You can reclaim your jewellery at any time by returning your pledge agreement and settling your balance in full (including any interest accrued).
On a loan of £300, the interest would be 9.99% per month (fixed), equal to £29.97 per month. If you repaid the loan after 3 months, the cost to repay your loan would be £389.91.
You can spread the cost of your loan by making regular payments. By making regular payments to your loan, your loan may decrease in price and your interest charges may be lower. (Representative APR 148.2% Fixed).
Your items may be at risk if you do not repay the loan.
If you Need to Extend your Loan
You can also renew your loan by bringing your interest payments up to date.
We endeavour to be as flexible as possible, so if you cannot redeem the full amount owed by the end of your seven-month term, we can come to an agreement whereby you can repay the interest only, and we will then renew the loan.
You’ll receive a new contract, giving you another seven months to settle your loan. We’ll set out terms that make it absolutely clear how much you owe in total, and there’s also an option for you to pay a lump sum in order to clear some of your original loan.
Partial Payment
Throughout the duration of your loan agreement, you have the option to make part payments towards your loan.
Making part payments is a great way to spread the cost of your loan, and if your payments exceed the interest owed, it can reduce your loan amount, resulting in lower interest payments in the future.
It’s important to note that making part payments does not extend the length of your loan period.
Difficulty Repaying Your Loan
At Mays, we understand that unforeseen circumstances or financial difficulties may arise, making it challenging for you to repay your loan. We are here to assist you in such situations.
It is our priority to ensure that you can fulfill your loan obligations. If you find yourself struggling to repay your loan due to financial difficulties or any other reason, please reach out to our store. Our team will make an effort to help and provide suitable solutions.
Please be aware that failure to repay the loan and accrued interest may lead to the sale of your pawned items.
We always send an early reminder notification approximately 60 days before the contract expires. This will be sent either through an SMS message or a posted letter.
Upon the expiry of a pledge contract, we will send you an “Intention to Sell” letter, giving you an additional 28 days to repay or renew the loan. If it becomes unlikely that you will be able to repay your loan, we will proceed with selling your items.
Usually, once the pledged item(s) are sold, your loan will be considered repaid, and you will normally have nothing left to pay.
In some cases, after deducting the loan amount, interest, and additional costs from the sale there may be a refund owed to you. Rest assured, we will notify you in writing regarding any such amount.
Please note: If we have to sell your items, your credit file will be unaffected.
_____________________________
If you do find you are in financial difficulty, there are organisations that can offer advice and help. Such as:
Money Helper
Citizens Advice
Step Change
Debt Advice Foundation
You can find a copy of our debt advice letter here.
Mays Pawnbroking Across Greater Manchester
As a member of the National Pawnbrokers Association, Mays guarantees a fast, confidential and professional service, offering instant loans between £10 and £50,000.
Get a Quote for your Item
The pawnbroking industry has been in operation for centuries, but the concept still causes quite a lot of confusion.
So why not call into your local store today for a chat with a friendly member of our team. Alternatively, you can make an enquiry through our website.
It Couldn't be Quicker or Easier
If you’re unfamiliar with the concept of pawnbroking, here’s a breakdown of how we do things:
At Mays, we always endeavour to lend you the amount that you are expecting to borrow against your item, and because of the knowledge and skill of our experienced valuers, we will be able to offer the full value.
Our interest rates are also very competitive. If you’re unable to drop into your local store, we’re more than happy to give you an estimated loan valuation via email.
Collecting your Jewellery
You can reclaim your jewellery at any time by returning your pledge agreement and settling your balance in full (including any interest accrued).
You can also renew your loan by bringing your interest payments up to date.
If you Need to Extend your Loan
We endeavour to be as flexible as possible, so if you cannot redeem the full amount owed by the end of your seven-month term, we can come to an agreement whereby you can repay the interest only, and we will then renew the loan.
You’ll receive a new contract, giving you another seven months to settle your loan. We’ll set out terms that make it absolutely clear how much you owe in total, and there’s also an option for you to pay a lump sum in order to clear some of your original loan.
Partial Payment
Throughout the duration of your loan agreement, you have the option to make part payments towards your loan.
Making part payments is a great way to spread the cost of your loan, and if your payments exceed the interest owed, it can reduce your loan amount, resulting in lower interest payments in the future.
It’s important to note that making part payments does not extend the length of your loan period.
Difficulty Repaying Your Loan
At Mays, we understand that unforeseen circumstances or financial difficulties may arise, making it challenging for you to repay your loan. We are here to assist you in such situations.
It is our priority to ensure that you can fulfill your loan obligations. If you find yourself struggling to repay your loan due to financial difficulties or any other reason, please reach out to our store. Our team will make an effort to help and provide suitable solutions.
Please be aware that failure to repay the loan and accrued interest may lead to the sale of your pawned items.
We always send an early reminder notification approximately 60 days before the contract expires. This will be sent either through an SMS message or a posted letter.
Upon the expiry of a pledge contract, we will send you an “Intention to Sell” letter, giving you an additional 28 days to repay or renew the loan. If it becomes unlikely that you will be able to repay your loan, we will proceed with selling your items.
Usually, once the pledged item(s) are sold, your loan will be considered repaid, and you will normally have nothing left to pay.
In some cases, after deducting the loan amount, interest, and additional costs from the sale there may be a refund owed to you. Rest assured, we will notify you in writing regarding any such amount.
Please note: If we have to sell your items, your credit file will be unaffected.
_____________________________
If you do find you are in financial difficulty, there are organisations that can offer advice and help. Such as:
Money Helper
Citizens Advice
Step Change
Debt Advice Foundation
You can find a copy of our debt advice letter here.