WHAT ARE ASSET LOANS?
Asset loans provided by Yorkshire Loan are a type of financing where you can use your valuable assets, such as cars, luxury watches, fine jewellery, private plates, land or property to secure a loan. These loans are ideal for businesses or individuals looking for flexible financing options.
WHAT TYPES OF ASSETS CAN BE USED AS SECURITY?
Yorkshire Loan accepts a wide range of assets as security, including residential or commercial properties, luxury vehicles, valuable jewellery or fine art. The exact list of accepted assets may vary, so it's best to enquire today with our dedicated specialists for specific details.
HOW LONG WILL THE LOAN APPROVAL TAKE?
The loan approval process duration may vary based on the complexity of the loan application and the type of asset used as security. Yorkshire Loan strives to provide fast and efficient approvals in many cases from the initial contact we aim to have the loan in your bank within 48 hours.
WILL AN ASSET LOAN AFFECT MY CREDIT SCORE?
The short answer is NO. Yorkshire Loan do not require a credit check for an asset backed loan. We comply to all anti money laundering and pawnbroking regulations whilst providing a discreet, confidential and professional service at all times.
ARE ASSET LOANS ONLY AVAILABLE FOR BUSINESSES?
No, asset loans from Yorkshire Loan are available for both businesses and individuals. Whether you need funds for business expansion or personal financial requirements, asset loans offer a versatile financing solution.
WHAT LOAN AMOUNTS ARE AVAILABLE?
The loan amount you can receive through an asset loan depends on the appraised value of the luxury asset you provide. Typically, you can borrow up to 80% of the asset's value, as determined by Yorkshire Loan's evaluation process. Yorkshire Loan offer loans ranging from £5K to £500K+.
HOW LONG IS THE REPAYMENT PERIOD FOR ASSET LOANS?
The standard repayment period within the pawnbroking industry is set at 6 months. It is possible to renew your asset loan for a further 6 months if required by speaking to your dedicated account manager.
CAN I STILL USE MY ASSETS WHILE THEY SERVE AS SECURITY FOR THE LOAN?
The answer is no, Yorkshire Loan is required to hold your asset as security and store it in appropriate secure storage facility for the duration of the loan.
CAN I USE THE LOAN FOR ANY PURPOSE?
Yes, once approved, you can use the loan funds for a variety of purposes, including business growth, debt consolidation, home improvements, education expenses, or any other financial need.
WHAT SUPPORT IS AVAILABLE IF I AM UNABLE TO REPAY MY LOAN?
If you are struggling to repay your loan contact your dedicated account manager immediately. They will be able to discuss payment plans and provide help and support to get you back on track with your loan.
If no contact is made with your account manager and repayments are missed your asset may be sold to recover any outstanding debt.