What kind of assets do Mays accept as collateral for a loan?
We lend against gold and platinum jewellery and prestige watches.
How much can I borrow?
Our loans start at £10 and we can lend up to £50,000. We actively lend responsibly and it is your responsibility to only borrow what you can afford to pay back.
Who will value my assets and determine how much I can borrow?
You will tell us how much you would like to borrow. Our experienced staff will then assess your jewellery or prestige watch while you wait. Once we have assessed the items, we will let you know if you can use them as security for your requested loan. You may be offered a lower amount if the items value is not enough to secure the loan you require.
What exactly do you mean when you say that your loans are based on "market value"?
‘Market Value’ is the amount we would expect an item to sell in our stores or on the high street. The ‘Market Value’ would be a second-hand price and not a new price. We will lend a percentage of the estimated market value.
How much interest will I pay?
The interest you pay will depend on how much you borrow and for how long. For example, if you borrowed £300, the interest would be 8% per month (£24.00 per month).If you repaid the loan after 3 months, the cost to repay your loan would be £372.00. You can spread the cost of your loan by making regular payments. By making regular payments to your loan, your loan would decrease in price and your interest charges would be lower. (Representative APR 114.3%).
Is there a maximum or minimum loan period?
Our loans are for a period of 7 months and you can repay your loan at any time during this period.
Can I extend my loan?
You can extend your loan by paying any interest due. We would then issue you with a new loan agreement.
Can I change my mind?
You have 14 days to change your mind if you feel that the loan agreement is not right for you. However, you will still have to repay the money loaned to you plus interest that may have accrued during this period. You must inform us if you wish to cancel the agreement within 14 days of the loan date.
When will I receive my cash?
You will receive your cash immediately after the loan agreement is processed.
How do I pay off my loan?
You can pay your loan in full or in instalments, whichever is easiest for you. We only accept cash or debit card as payment for repaying your loan with us.
Do Mays conduct credit checks?
We do not carry out any credit checks.
How will I get my assets to Mays for valuation?
We have 6 stores across Greater Manchester where you can bring your items for a loan. If you are not able to visit a store, we may be able to accept items by post. Please contact us for further details.
Where will my assets be stored?
Your items will be securely stored in our modern safes and will not be removed until you repay the loan.
When can I come in to redeem my loan?
You can visit our stores to redeem your pawned items at any time within our opening hours which you can find on our contact page.
Can someone else come and collect my assets on my behalf?
You can send someone to repay the loan on your behalf. They would need the pawn ticket (credit agreement) and the correct payment.
Are my valuables insured when posted to you?
Yes. Items should be sent by Royal Mail Special Delivery and appropriate compensation cover should be taken out up to £500. Beyond that our own insurance will cover you up to a value of £50,000.
How will I know that my items have arrived
Your items will be tracked by Royal Mail. You can monitor the delivery of your items online. We will also email you when we receive your item(s).
What should I do if I think my items are greater than the value of £500?
Our insurance policy will cover your items up to a value of £50,000.
Do I have to accept your offer?
No, any offer is provisional. If you choose not to accept the offer, we will simply return your items to you.
Can I come in and collect my assets?
We would be delighted to welcome you into one of our stores. We have 6 located around Greater Manchester where we can arrange for you to pick up your assets. Please contact us if you would like to do so.
How will my items be returned to me?
Once you have settled your agreement in full your assets will be sent back fully insured by royal mail special delivery.
Is it possible for my assets to be delivered to an alternate address?
No. Your assets must be sent back to the address stated on your pledge contract.
Sell Your Gold
How much will I get for my gold?
Prices change on a daily basis therefore we do not offer prices over the telephone. When you bring your jewellery into one of our stores we will assess the value and condition of each item. Once we have assessed your items, we will aim to offer you the best price around.
What types of gold do you buy?
We buy all types of gold in any condition. We may need to test certain items to ensure they are gold but we will inform you of this before any test is carried out.
What types of cheques do we cash?
We cash most ‘Third Party’ cheques. By ‘Third Party’, we mean, cheques that have been made out to you from an organisation or business.
Do you cash personal cheques?
We do not cash personal cheques. If you are unsure please call your nearest store for more information.
What are the charges?
The charges depend on the amount of the cheque. Our charges start from as little as 2.5%.
What ID is required?
You will need photo ID such as a passport or full driving licence, proof of address and any documentation that came with the cheque i.e. payslip.
How quickly can I get money?
In most cases, you will receive your money straight away. In certain circumstances, we may offer you a percentage of the cheque amount and pay the balance once the cheque has cleared through our system.
Where are your items sourced?
Our new items come direct from the manufacturers while pre-owned items come from part exchange, items purchased over the counter, through auctions or unredeemed pledges.
Can I visit one of your stores to view the jewellery?
We would be delighted to welcome you into one of our stores. Click here to find your local store.
How long will my repair take?
Most repairs are carried out and returned to store in a week.
Where will it be repaired?
Your items will be repaired at our in house workshop.
Where are my items stored?
All items are stored securely in modern safes.
How do I send money?
You can send money to almost any country by visiting our stores which operate a money transfer service.
What do I need to bring in order to send money?
You will need the money you intend to send and in some cases, photo identification.
How much money can I send?
How much you can send depends on which country you wish to send the money to. Call one of our participating stores for more information.
When can I send money?
You can send money at any time during our opening hours.
How do I know if my money transfer has been received?
You can choose to receive a text when the transfer has been completed or you can contact the recipient for confirmation.
Does Western Union offer an escrow service or any kind of protection for online auctions and other transactions?
No, it is your responsibility to ensure that you are sending the money to a legitimate recipient.
How do I collect my money?
You can collect your money from our Collyhurst and Salford branches. Click here for store contact details.
What do I need to bring in order to collect my money?
You will need your unique money transfer reference number given to the person who sent the money and your photo identification matching the details of the recipient on the system.
How do I find out if my money is ready to be collected?
You should be contacted by the sender when they have sent the money.
How does Western Union pay out money transfers?
Money transfers can be paid in cash or straight to your account. The payment method must be organised at the time of sending.