Pawning your watch or jewellery instead of taking out a loan with a bank or other lender allows you to quickly and easily convert your valuables temporarily into cash. You will be loaned an amount of money based on a fair and competitive assessment of the value of your items. There is never any obligation for you to sell your items and there is no risk to your credit.
You have the option of choosing whether to pay back the money, along with the interest, and receive your valuables back at the end of the loan period. This loan period is usually seven months. Alternatively, you can renew the loan for an additional seven months.
An important advantage with using our pawnbroking service is that if you are unable to pay back the money it will not harm your credit history. We will never contact you to ask for any payments. If you decide you do not want to repay the loan then the agreement simply ends and the items will be put up for sale in our showroom.
In order to give you the best possible valuation for your items we will need to view them in our showroom. Unfortunately we are unable to make valuations based on photographs. Please feel free to visit us anytime during our normal working hours.
- Total amount of credit: £100 for 7 months. Total amount payable: £142 in one repayment of £142.00
- Interest rate 72% pa(fixed) Representative 81.8%APR
Tables of rates:
Loan Amount Monthly Interest
- £0 – £500 6.0%
- £501 – £1,000 5.5%
- £1,001 – £2,500 5.0%
- £2,501 – £4,500 4.5%
- £4,501 – £100,000 3.5%
- Higher 3.2%
If you wish to make a complaint you can contact us in a number of ways:
In person: At West 2 Jewellers shop
Tel. 0207 262 1521
By email: email@example.com
In writing: West 2 Jewellers, 191 Edgware Road, W2 1ET.
We will do our best to resolve complaints within three business days following receipt. However, if we are unable to do this we will:
Acknowledge your complaint in writing as soon as reasonably practicable assuring you that we have received the complaint and it is being dealt with. We will also include a copy of this procedure.
Keep you informed of the progress of the complaint.
Provide you with a final response within 8 weeks of receipt of the complaint.
What if you remain Dissatisfied?
If you are not satisfied with our final response, you may wish to speak with The National Pawnbrokers Association (NPA) of which we are members. They can give guidance on pawnbroking matters. Their role is not to resolve complaints or disputes but can give independent guidance on matters. They can be contacted on:
- Suite 407
- 16 High Holborn
- WC1V 6BX
- Tel: 0208 616 7266
Escalating a Complaint
If you want to contact us to discuss your complaint after receiving your acknowledgement letter, please contact the Customer Relations Unit:
- Telephone: 020 7262 1521
- Write to: West 2 Jewellers, 191 Edgware Road, W2 1ET.
- Email: firstname.lastname@example.org If you are still dissatisfied after receiving the “Final Response” letter and your complaint is about the provision of a pawnbroking loan; you can ask the Financial Ombudsman Service for an independent review. You must refer your complaint to the Financial Ombudsman Service within six months of the date of receiving our Final Response. Their contact details are:
- The Financial Ombudsman Service, Exchange Tower, London E14 9SR
- Telephone: 0800 023 4567 from a landline
- Telephone: 0300 123 9123 from a mobile
- Email: email@example.com
- Web Site: www.financial-ombudsman.org.uk
Authorised and regulated by the Financial Conduct Authority