Brits turn to Pawnbrokers to pay for Summer Holidays

Borro.com gives millions of loans to help customers pay for summer breaks

Despite another financially difficult year (so far), more and more people have been looking to get away this summer. It's no wonder people turned to businesses such as Borro.com, the UK's first online pawnbrokers, as an alternative way of getting extra cash to take their annual summer holiday. Borro.com has found that over 30% of their customers have taken out a loan since the beginning of June to raise funds for their holiday, with the average loan being 1,050 which equates to the cost of a holiday in Majorca for a family of four.

In the last month, Borro.com has taken in more than 2million worth of valuable assets including watches, jewellery, gold and antiques. Paul Aitken, CEO of Borro.com comments: "Both young professionals and families look forward to their holidays abroad and rather than cancelling plans due to a lack of money, they are looking for other ways to fund them. Our customers are increasingly telling us that in these difficult times, we are among the most readily available and reliable sources of short term finance around - and it's for reasons such as holidays that our service is a real benefit."

Borro.com's innovative online service allows people to discretely and easily obtain short term loans of 100 - 100,000 secured against valuable items. The online operation is attractive to customers from all walks of life and reflected in the fact that 75% of Borro.com's customers are first time users of pawn broking or asset lending services.

Contrary to popular misconceptions about pawnbroking, 90% of Borro.com's customers redeem their pledges at the end of the contract.

About Borro.com

Launched in 2008 by former Movota founder and MD Paul Aitken Borro.com was the first online pawnbroking service worldwide. Its aim is to revolutionise pawnbroking for a 21st Century making it convenient and discreet. Sweeping away the once seedy image of pawnbroking, Borro.com is a modern fully-regulated financial services based in Chancery Lane, London, and in Oxford.

BORRO Limited: Consumer Credit Licence Number 620035, is regulated by The Office of Fair Trading. Registered address: Seebeck House, One Seebeck Place, Knowlhill, Milton Keynes, Buckinghamshire, MK5 8FR. Company registration 6573695.

Brits turn to Pawnbrokers to pay for Summer Holidays

By: anniecatz

POST COMMENT

Planning your holidays in the perfect way Building a Beach in Garden What Vitamins Can I Take In The Summertime? Avoid Stress By Having Fun And Relaxing Joseph Roces Summer Holiday Visit Australia For Adventurous Holidays South African Police Officers still not paid for overtime during World Cup Soccer Require A Reason To Try Adventure Holidays? - Here's 3! Play ' Mystery P.i. - The London Caper' On M3i Zero Summer Is The Perfect Time To Look After Your Boiler Holiday in Buenos Aires Buy Great Christmas Gifts - Even If You've Waited 'till The Last Minute 1 Idea That Can Make An Impression On A Costume-rocker Halloween Costume