If you need money at short notice and can not access the corresponding financial reserves, you have a variety of options to get the short-term, necessary liquidity: Be it by using the expensive emergency loan, the inclusion of a cheaper consumer credit or even mini-credits or by the way to the pawn shop. For the latter, provided that there is something in your own possession that makes a temporary loan worthwhile. So the amount can be achieved as a mortgage, which is sufficient to bridge the financial bottleneck. And one can hardly believe it, the loan alternative “Pfandkredit” is still a real existing business that enjoys a certain popularity with consumers. So instead of taking out a loan, some people prefer to go to the pawn shop when they need to bridge a financial shortage in the short term. The reason for going to the pawnbroker is understandable.
Mortgage Credit is a schufa-free loan
When urgent money is needed, credit usually has to be provided. If no credit line is available to service the need for cash, the bank will go to the bank and an installment loan application will be made. But to go this way requires the existence of some mandatory prerequisite and the most important thing here is the issue of creditworthiness. Anyone who has incriminating features in his Schufa information is faced with an almost insurmountable hurdle at his bank in the context of the loan request – the supposedly unworthy of credit. Even an attractive salary from an unfinished employment relationship and a long-standing customer relationship with the bank is hardly helpful. The consequence is the rejection of the credit inquiry and one is faced with the question: What now?
Dubious loan offers under the slogan “Credit without Schufa”, “Credit even in the most difficult cases” etc., do not have the best reputation. In the case of a credit rejection by the bank, this may be an alternative, but with a certain risk of “rip-off”. So as a further, possible alternative, the mortgage loan remains.
For with the mortgage loan, the issue of creditworthiness and Schufa is no reason for deciding on the awarding of a Dartlehen no hindrance or even rejection. Basically, a mortgage loan is not really a loan, but the temporary loan of a valuable asset. The prerequisite for obtaining a mortgage loan is the existence of a lendable value asset. There is a simple rule: the higher the need for credit, the higher the value of the delivered item should be. Anyone who is in possession of valuables in the form of gold, jewels and high-quality brand watches, can hope for a “loan” by mortgaging in a pawn shop.
The “rules” of the mortgage loan
It should be noted, however, that a valuable asset is never rated at 100% of the purchase price, but a maximum of 30%. However, here too, there are big differences between pawn shop and pawn shop. For example, if you pledge a valuable asset with a value of 2000 €, you can at best expect the loan to be paid out in the amount of 600 €. Fees and interest deducted from this, however, are then deducted at 2.5% to 3.5% interest – incurred monthly! The first term of the mortgage loan is four months. However, as a customer of the pawnbroker, you have the option to extend the mortgage loan as often as you like, provided that you pay interest and fees. If the pledge loan is not redeemed, the pawnbroker usually auctions the respective item in a public auction. However, this happens only after six months have passed and you have not reported as a customer.