How do I qualify for Loan Purchase?

To qualify for Loan Purchase service you must meet the following criteria:

  • You are the legal owner of the Item(s) that you wish to Loan Purchase against and proof of this can be provided.
  • You are 18 years of age or older.
  • Photographic Identification will be required in the form of a passport and/or Driving License.
  • You may also be required to produce 2 recent utility bills.
  • You make Loan Purchase aware of any outstanding encumbrances at the offer stage, so that if neccessary we can settle it and balance paid to yourself.
  • You are located in the United Kingdom and are legally capable of entering into a binding agreement such as this one.

What do we Loan Purchase against?

We buy any Plant & Machinery. • Small Tools • Stock • Raw Materials • Commercial Vehicles, • Aircraft • Sea craft • Caravans • Cars • Musical Instruments • Jewellery,Precious Stones & Watches • Paintings • Collectable Items • Antiques • Memorabilia • Land • Commercial Property • Property.

We also Loan Purchase against individual and multipes of any of the above items, including work tools,anything of wholesale value including palletised goods and any other uncommon,odd or obscure items.

Is there a minimum value of an item that we will Loan Purchase?

We will Loan Purchase against any items that have a trade market value of more than £200. The trade market value is how much you would get selling the item on the open market; not how much it cost to buy new. Please send us an email with as much detail about the item as possible along with images of the item and we will let you know if we would Loan Purchase the item.

How do I know what my item trade market value is?

If neccessary your item will be independantley valued, the trade market value will then be determined by what the trade would pay for the item.
For example if you have a Grand Piano which is valued by an independent valuer, who values it at £4000, this valuation will be checked against what the market would pay at the time, this is therefore classed as Trade Market Value. Loan Purchase will then purchase your item for 30-50% of the trade market value.

Does it matter if my item is damaged,non working or in need of repair?

If the item you are offering us is not in good condition,non working or damaged; we could still make a Loan Purchase offer on it, but of course the condition of the item would reflect on the offer, but would still be considered.

How will I get my item to Loan Purchase?

Loan Purchase will arrange for your items that you have Loan Purchased against to be collected completely free of charge, whether this is am antique pocket watch or a Kamatzu Dozer.
All transportation will be covered with comprehensive insurance.

Where will the items be stored?

Depending on the item we will store it securely in one of our yards, warehouses or smaller valuable items in a secure vault. All of these facilities are in the South of England. As Loan Purchase is buying your item there will not be any charge for securing goods.

What happens if the items get lost or are stolen during my option period?

The item will be fully insured with Loan Purchase from the moment of purchase until you exercise the buy back option on the item. If the company is unable to sell any of the goods back to seller on the day when seller exercises buy back option because of circumstances beyond companies reasonable control, for example but not limited to natural disasters, acts of terrorism and any other un-insurable incidences then the option will lapse and seller will be reimbursed all option extension fees paid by seller together with an amount equal to 10% of the amount paid by us for the purchase of the item. If the company’s inability arises because of circumstances within reasonable control, including theft, then the Company will pay seller the agreed insured amount as indicated on agreement in respect of the affected goods, less the purchase price paid by the company for the item.

How quick is the process?

From the time that you make contact with Loan Purchase, send us details and images, get valuations, and determination of the trade market value is complete, depending on the items complexity this process can take anything from one hour, with somebody visiting Loan Purchase premises , to potentially a week for a more complex item. The time period for this process is affected by the time that information is given to Loan Purchase.

Will this process affect my credit rating?

No it will not. Loan Purchase will carry out identity checks as part of our legal compliance, but this is not a credit check. Your credit rating remains unaffected.

How much do you pay per item?

We will buy items from £100 to £250,000. We will typically buy your item for 30 – 50% of the trade market value of your item. This percentage is based on allowing us to be able to sell the product in a downward market and also enable Loan Purchase to recoup our money back including any outstanding charges, should seller not exercise the right to buy back.

Can I purchase items earlier than the option renewal date?

Yes. You can buy the agreed item back at any time. You will,however, be liable for the full term of agreed option fees on top of the item price. Once you have paid back your option fees and item price, you will receive your item back.

Can I extend my Loan Purchase option Period?

You may be able to extend the buy back period on a 28 day period subject to the acceptance of Loan Purchase. You will need to pay the option fees that you have accrued to date, before extending the option period.

How will I receive my money?

On acceptance of our final offer and documentation has been signed and received by Loan Purchase we will pay you your money within 1-24 Hours.This money can be paid directly to you by cash, cheque,bankers draft, pre paid credit card,direct to a third party or other.

I do not have a bank account. Can I still use Loan Purchase?

If you do not have a bank account we can pay you money by Postal Order, Cash, Paypal,Direct to a Third Party,or other options on payment such as loading a prepaid credit card.

How do I complete my buy back option?

We will raise an invoice and you will pay for the item including option fees, and any other monies outstanding including delivery charges if any. You can pay by Cash, Credit or Debit Card, BACS, Chaps, PayPal, cheque, bankers draft or other. The goods will not become yours until the funds have been cleared in our account. We will provide you with a unique reference number. If there are charges incurred for your chosen method of payment this will be added to your final invoice.

How quickly will I receive my paid for item?

On cleared affects your item(s) will be made available for collection/delivery.

Why is Loan Purchase better than a high street pawnbroker or lender?

There are many reasons why Loan Purchase is better than a pawnbroker or lender:

  • We offer a buy back service which can be extended on a 28 day period of time at the discretion of The Company.
  • We buy large and small items, including many which pawnbrokers would not even consider taking. Thus, Loan Purchase will give you more options with raising money for your valuables.
  • We offer competitive fees that are easy to pay back should you wish to buy back an agreed item.
  • We are both online and available on the phone so there is someone to contact by either method. Loan Purchase can also be contacted out of hours and at weekends.
  • Loans Purchase has a Bournemouth based head office that welcomes the public, so if you need to sell your item in person you can.