Loan amounts from £5,000 to £1 million that can be used for any legal purpose, are available through asset based finance. There are no income checks or credit check, the amount borrowed is based on the value of the asset or assets being used as security.
The whole process from application to receiving your money in your bank account is not only quick but also convenient and extremely simple.
Very simple process:
It is possible to receive in principle decisions in under an hour and funds can be transferred into your bank account within 24 hours.
Once you settle your asset based loan agreement your asset or assets will be safely returned to you.
Once an offer has been accepted funds will be paid directly into your bank account. An arrangement fee will be added to the loan facility and interest is charged monthly. The amount of the arrangement fee and the monthly rate of interest depends on how much is being borrowed together with the amount and type of security. All interest rates, fees and costs are of course fully disclosed in the loan offer.
There are no redemption fees on asset based bridging loans!
Assets that are to be used as security are professionally valued so that lending limits can be determined. Unlike most bridging loans that are secured on property, asset based loan valuations are free of charge.
Since there are no application fees an offer of finance can be obtained without incurring any charges.
In the event that you are unable to repay the loan, the lender will arrange to sell the asset or assets that have been used as security. Then together with any recovery costs, the loan account will be cleared, and any remaining proceeds will be paid back to you.
All assets are secured in first class storage facilities that are very safe and secure. Fine arts, antiques and other delicate valuables are stored in optimum environment facilities. Prestigious and classic cars are stored at specialist air conditioned storage facilities that can also provide any servicing or engine running that maybe required. You can rest assured that your valuable belongings are well looked after during their time away from you.
Your assets are fully insured by the lender from the time that they leave your possession to when they are safely returned to you after your loan has been repaid.
Pawn broking has been around in various forms all over the world for thousands of years.
Many of us have used pawn broking or made use of the principle of pawn broking during some time in our lives, perhaps without even realising it!
In a simple form we may borrow money or an item from someone and in order to offer some security for piece of mind whilst the item is being borrowed an item of security maybe offered in return.
In order to raise some money when cash flow is tight we may decide to pawn an item by taking it to a pawn broker who will lend money which is secured against the value of the item, also known as the ‘pawn’.
Raising funds through pawn broking is certainly not the cheapest way to borrow money. But pawn broking is a quick and easy way to borrow money as there are no credit or income checks.
A pawn broker is someone who provides a pawn broking service. A pawn broker will give the pawn a value and against this amount they will agreed to lend an amount of money. The pawn will then be kept safely until the loan amount is repaid together with interest and any other agreed costs.
However there are time limits to how long a pawn broker will hold on to the pawn. If the loan is not paid back within the time limit the item may be sold in order to repay the loan.
Today pawn brokers offer a variety of other services and like most things pawn broking has reached the internet where in recent years it has become very simple to quickly pawn high value items on line, in order to raise urgent funds.
Last updated: 04 June 2019 | © KIS Bridging Loans 2020