• Loan items
  • What does loan.co.uk we loan against?
    Loan.co.uk loans against any items made with silver, gold or platinum. This includes almost all kinds of jewellery such as necklaces, bracelets,rings, chains, broaches, ear rings, cuff links etc. We also loan against precious stones and items such as watches. Plus boats, cars (we need to keep the car in our secure lock up for the period of the loan), works of art and select antiques. Back to top
  • Is there a minimum value of item that loan.co.uk will lend against?
    No, but as a rule, loan.co.uk will lend against an item that has a secondhand value of more than £250. The secondhand value is how much you would get selling the item on the open market, not how much it cost to buy new or how much it is insured for. If you’re not sure, either send us an email with as much detail about the item as possible and we’ll let you know if we can lend against it, or check what similar items have sold for on eBay or other auction sites. Back to top
  • How do I know if my item is made of gold, silver or platinum?
    If it is gold, silver or platinum, look for a small stamp on the item, it is often found on the inside of rings or on the clasp of a chain or earring. Watches have them on the reverse side. Some of the more common stamps say 10Kk, 14kt, 18kt, 583 or 750. If you can’t find the stamp but you sincerely think an item may be made of precious metals, provide us with as much detail as you can in the first instance and we will value it or send it to us and we can value it then Back to top
  • How will I ship the item to loan.co.uk?
    Loan.co.uk have a number of different courier options. For most items we use Royal Mail Special Delivery Courier Service. This service is insured up to £30,000, guaranteed next day delivery, fully tracked and provides electronic proof of delivery. Your Special Delivery Pack is issued to you as part of your welcome pack. Back to top
  • What will the shipping cost me?
    The shipping is pre-paid by loan.co.uk and free of charge. Back to top
  • Loan application process
  • How quick is the loan application?
    If you send loan.co.uk your goods today we will value them tomorrow, and you will receive your cash the same day. Back to top
  • Will my credit rating be affected and does loan.co.uk carry out credit checks?
    No. We carry out identity checks, not credit checks, as part of our legal compliance as a financial service provider. Your credit rating remains unaffected. Back to top
  • How do I qualify for a loan with loan.co.uk?
    To qualify for a loan with loan.co.uk you must meet the following criteria:
     
    • You are the legal owner of the Item(s) that you wish to pledge (borrow against).
    • You are 18 years old or older
    • You can provide loan.co.uk with suitable proof of identification including a passport number or driving license and utility bill details
    • Your Item(s) are free of any and all claims, liens, or anything else that might adversely affect the value of your pledge or your ability to borrow against it, such as a hire purchase agreement
    • You are located in the United Kingdom and are legally capable and willing to enter into a binding agreement such as this one.
    • You are not acting as anyone else's agent or representative for this transaction to loan.co.uk
    Back to top
  • Why do I need to provide proof of identification to loan.co.uk?
    Our loans must conform to the OFT requirements of the Consumer Credit License, category A. Proof of identification is one of these requirements Back to top
  • Receiving your money
  • When will I receive my cash?
    Loan.co.uk have made the loan process as quick and easy as possible to make sure that you receive your loan in the shortest amount of time. Once we have received and valued your item(s) (pledge) and you have agreed to take out the loan with loan.co.uk, we will transfer the funds directly to your bank account (most major banks are now able to accept same day transfers - please check with your bank). You will receive an email notifying you that the loan has been credited to you from loan.co.uk's bank account. Back to top
  • Can loan.co.uk transfer cash to my PayPal account?
    Yes. Please provide us with your PayPal email address and confirm that this is where you want the cash transferred to. Back to top
  • I don’t have a bank account or paypal account. Can I still get a loan?
    It is easy to set up a paypal account or we can send you a Postal Order for your loan amount. Postal Orders are secure and now carry your name so only you can cash them, just like a cheque but you receive cash rather than put it into a bank account. There is a small charge to receive your money via a Postal Order, this will form part of your redemption fee. The charge is not added to your loan amount and will not be subject to interest charges. Back to top
  • Your loan with loan.co.uk
  • Over what period can I have the loan?
    Loan.co.uk is one of the cheapest ways to borrow money over a short period of time. The initial agreement is for 6 months. Back to top
  • Can I payback my loan.co.uk loan early?
    Yes, you can payback (redeem) your loan at any time. Once you have paid back your loan you will receive your item (pledge) back within 2 days. Back to top
  • Can I extend my loan.co.uk loan?
    You can extend your loan for a further 6 months but you must pay off the outstanding interest before you can extend. We will then create a new credit agreement for the loan extension. It is a simple transaction. Back to top
  • Can I change my mind about taking out a loan?
    Once we have received your item(s), we will carry out a valuation and provide you with a loan offer, including full details of terms and conditions and interest rates. You can then chose whether or not to take out the loan. Once you have contacted us to accept the loan, this then becomes a binding credit agreement which you will need to honour. Back to top
  • Paying off your loan with loan.co.uk
  • How do I pay my loan.co.uk loan off?
    You can transfer money into our bank account from either your bank account or your PayPal account. We will provide you with a unique reference number. If you only have cash then you can walk into any one of our banks branches and pay it into our account from their. Back to top
  • If I don’t pay-off my loan will my credit rating be affected and will I have a bad debt or CCJ?
    No, if you don’t pay off your loan, your credit rating is not affected and there will be no bad debt. We simply sell your item to recover the amount you borrowed, the outstanding interest and any costs incurred in selling the item, such as auction fees. We will send you any surplus. We would expect you to make every effort to pay the loan off though. Back to top
  • How quickly will I receive my item back from loan.co.uk?
    Once loan.co.uk have received your payment, we will immediately ship your item back to your home address. You will receive the item the next day. You will need to sign for your item or collect it from the post office if you are not around. Back to top