The Best Emergency Loan

Mar 9, 2020 | Pawnbroking

Sometimes in life, a real money emergency does pop up. It might be the car has broken down needs a new part, the house is flooded, the fridge is broken, or those U2 tickets just cost a lot more than you thought they would. Whatever the reason is, at least once or twice in your adult working life, you will come up against the need for some cash quickly.

Like most problems of our modern age, there is not one but many solutions. 

Option One – Payday Loan

Very simply. The company will look at your bank details payslips, determine what you earn as a wage every two weeks “forward” you a portion of that. You will also pay an administration fee then the interest, which will be very high. This is for employees only, not self-employed people. Payday loans have compound interest.

Option Two – Cash Advance

The cash advance is simply a high-interest loan. In banking, it would be called an “unsecured” loan as they are giving you the money based on nothing, but they know who you are. Unlike a “secured” loan, they can’t take the security back if you default, they can’t gain money from the security; thus, the cost is a lot higher. Just compare your credit card to your mortgage. This is compound interest.

Option Three – Secured Pawnbroking Loan

A pawnbroking loan is a secured loan unlike the others. Here you enter as a partner with something of value. Many people invest in a Rolex or another luxury watch do so for this very reason, they know it is excellent for a rainy day. Also, unlike a car or a smartphone, a Rolex is more likely to increase in value. A London pawnbroker, like Suttons and Robertsons, can offer same-day loan service on luxury items. You can walk in with your Rolex walk out with the money. They offer compound interest, you get your item back when you come back pay the loan off.


As you can see quite clearly, a secured loan can be better for your pocket than an unsecured loan, as there is much less risk to the lender, that is what they charge for, risk, not the service. Suttons and Robertsons provide same-day pawnbroking loan service on luxury antique items, with loans up to £20,000 pounds usually within an hour.

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