The gold rush isn’t over – British borrowers sitting on a gold mine

By Bridging Loan Directory -

 

  • Average loan against gold reaches £7,000 in 2012
  • borro vaults home to gold bars and gold jewellery collections

 

With Britain basking in the glory of 29 golds at London2012, new analysis by borro, the UK’s leading personal asset lender, has revealed that the country’s wealthy are ‘going for gold’ to access finance.  Research found that borro’s average loan against gold assets has risen from £2,000 in January 2010 to £7,000 in the first half of 2012.

Gold collections stashed in the vaults at borro include gold bars, bangles and bracelets, as well as rings, necklaces and earrings.

High value gold collections in the borro vaults:

Item

Description

Loan Value

1

2 x 1kg fine gold bars

£50,000

2

19 x Asian gold bangles; 1 x Asian gold bracelets; 7 x Asian gold rings; 3 x Asian gold pendants;  12 x Asian gold Necklaces

£40,000

3

Collection of 22ct gold jewellery

£40,000

4

Collection of 18ct and 22ct gold

£25,500

5

Collection of gold jewellery comprising: 8 x large necklaces; 16 x small necklaces

£19,250

6

1 x Pair of gold bangles

£15,000

7

1 x Gold spiral suite of necklace, bangle, ring and pair of earrings

£15,000

8

2 x Asian gold bangles; 4 x Asian gold necklaces; 1 x Asian gold chain; 2 x Asian gold ring

£13,860

9

1 x Commemorative gold plate

£13,000

10

7 x gold jewellery sets

£11,000

 

Paul Aitken, CEO of borro said: 

“While the nation’s sporting elite have experienced a gold rush of their own, we regularly see our clients capitalising on their gold and other assets, to access finance.  We’ve seen it all at borro, from vast collections of Asian gold, to commemorative plates, to solid gold bars. Against the current economic backdrop, it is no surprise we have a number of high net worth individuals and small business owners utilising their assets for financial support. Many people are realising that they have collected an array of valuable personal assets that they can use to raise funds without lengthy bank processes or putting property up as a guarantee. The vast majority of our customers redeem their assets, demonstrating the risk free and efficient service we provide.”