UK personal asset lender borro has reported seeing an increase in the number of British borrowers choosing to refinance their jewellery.
The lender has seen an array of unique jewels and gems come through its vault doors, as more and more Brits use their valuable jewellery collections as collateral for finance.
The average loan provided against such assets, including diamonds and sapphires, has risen 151 per cent over the past two years.
Paul Aitken, CEO of borro, said: “Many people have beautiful jewels and gems sitting in a jewellery box or tucked away in dressing tables, without realising their true value. Anyone looking for finance could easily be reaping the benefits from the value found in assets like these.
“borro provides quick and easy access to finance against personal assets, without sacrificing pieces and heirlooms that people hold dear.”
The following table details examples of high-value jewellery currently stored in borro’s vaults:
|
Asset |
Loan Value |
|
Round brilliant-cut diamond, set in platinum and yellow gold (approx. 5 carats) |
£100,000 |
|
Single stone marquise cut diamond ring (approx. 5 carats) |
£89,000 |
|
Sapphire and diamond bracelet |
£51,100 |
|
Single stone diamond ring (approx. 14 carats) |
£50,000 |
|
Pair of 3 carat Cartier diamond ear studs |
£40,000 |
|
Emerald-cut diamond ring (approx. 10 carats) |
£35,000 |
|
Single stone diamond ring (approx. 5 carats) |
£30,000 |
|
Single stone platinum diamond ring set (approx. 4 carats) |
£27,300 |
|
1950’s sapphire and diamond ear clips |
£25,150 |
|
White gold single stone diamond ring (approx. 18 carats) |
£24,000 |
Paul continued: “Brits are turning to alternative sources of lending for a variety of reasons - most of our customers are looking to facilitate business transactions and opportunities while others come to us to fund surveys and pay other fees relating to property refinancing. Other reasons include supporting an irregular income, funding holidays and school fees, and helping to pay tax bills and other unexpected expenses.
“borro provides a solution for those looking to raise finance, by unlocking the value found in their personal assets.”
Leave a comment