We all know that getting finance of any sort these days has become far more difficult than it once was. However, this does not mean that people need finance any less than they used to – in fact, many people now have a greater need for finance because of how overstretched their finances have become in what is a very difficult financial climate. This has resulted in a stream of people who need finance, are unable to get the credit that they need through High Street banks, and have had to look at alternatives to try and get finance.
One of the things that people have started to do is to use some of their treasured belongings to secure finance for themselves. Of course, we are all used to hearing about people who use their homes or cars to secure finance but according to one online lender the list of things being used as collateral has become increasingly bizarre.
According to the lender some of the things that people have used a collateral recently in order to get finance have included a Henry Moore sculpture, an 18th century bible, two Ivor Novello awards, Beatles memorabilia and a tank. The success levels of those that used these unusual items to secure their finance varied with some managing to secure tens of thousands of pounds such a the person using the Henry Moore sculpture and the Beatles memorabilia and others securing only a couple of hundred pounds such as the owner of the 18th century bible.
Tags: ivor novello, ivor novello awards, street banks, tens of thousands, different ways, financial climate <BR/>An official from the online lender said: “It is fascinating to see the wide variety of customers and assets coming to us at the moment. People are undoubtedly being hit by these tough economic times and are looking at different ways to raise the money to help them pay for those unexpected financial situations. Many people are realising that they have some very interesting and valuable personal items sitting in their homes or in storage.”
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