What Is Pawnbroking?

Pawnbroking is a secure way to borrow money using your personal valuables—such as jewellery or luxury watches—as collateral. These items, known as pledges, are safely stored while you repay the loan and interest.

When you pawn items you own, you're simply turning your belongings into cash for the short term. It’s like borrowing money from yourself, with your pledged item acting as security for the loan.

At Miltons Diamonds, we take pride in our professional service. We invite you to visit us at our stores in County Road, Liverpool or Ormskirk street, St Helens to experience a safe and easy way to borrow money.

Once the loan plus interest is repaid within the agreed term, your item is returned. If not, it may be sold to recover the outstanding balance. There’s no impact on your credit score.

A Heritage of Trust

Pawnbroking is one of the oldest financial services in the world, with roots in ancient Rome, Greece, and China. Its symbol—three golden spheres—represents a long-standing tradition of financial support.

In the UK, pawnbroking has been practised since the 11th century and is now fully regulated by the Financial Conduct Authority (FCA).

 

Why Choose Miltons Diamonds?

Operating in both Liverpool and St Helens with over 120 years of experience and four generations in the trade, Miltons Diamonds is a name you can trust. We offer:

  • Friendly, discreet customer service
  • FCA-regulated operations
  • Secure storage for all pledged items
  • Industry-leading compensation cover

We’re also proud members of the National Pawnbrokers Association.

How it Works

1. Bring in Your Item

Visit one of our branches with your jewellery or luxury watch. Please bring:

  • Valid photo ID
  • Proof of address (dated within the last 3 months)

 

2. Receive a Loan Offer

We’ll professionally appraise your item and offer a loan for up to 7 months.

 

3. Redeem Your Item

Repay the loan and interest to reclaim your item. This is known as redeeming. Keep your pledge receipt safe—it’s required for collection.

 

4. Need More Time?

If you’re not ready to repay in full, you can:

  • Pay just the interest and renew your loan for another 7 months (see consecutive loans information)
  • Or pay the interest and part of the capital to reduce your loan balance

 

If You Can’t Redeem

If you’re unable to repay after 7 months, we’ll follow the Consumer Credit Act:

  • You’ll receive 14 days’ notice before your item is sold
  • Items may be sold via public auction or private treaty sale
  • Interest continues to accrue until the item is sold
  • 25% will be deducted from the sale price to reflect our reasonable costs of sale.

 

At Miltons Diamonds, we want to help our customers. We are delighted to say that over 90% of pledges pawned are reclaimed, but customers must be aware that failure to repay the loan and interest will ultimately result in the pawned item being sold.

This is the last thing we want to happen, so if you have any worries about redeeming your jewellery or if you’re facing financial difficulties, please call us.

For free, impartial advice, visit www.moneyhelper.org.uk

 

Unlock the Value of Your Jewellery & Watches

Luxury watches and fine jewellery are more than just beautiful—they’re valuable assets. Whether you need funds for a business venture, home improvements, or a holiday, your items can help.

We lend against top watch brands, including:

  • Rolex
  • Patek Philippe
  • Audemars Piguet
  • Breitling
  • Cartier
  • TAG Heuer
  • Omega

 

Our Appraisal Process

We assess:

  • Brand reputation and market demand
  • Materials (e.g. gold, platinum, diamonds)
  • Condition of the item
  • Original box and paperwork (if available)
  • Current resale values from trusted sources

Once appraised, we’ll offer a fair loan amount. If accepted, your item is securely stored until you’re ready to redeem it.

 

Clear, Transparent Interest Rates

  • Interest is charged monthly
  • You only pay for the months your loan is active
  • No hidden fees or extra charges
Our Interest Rates

Effective from 03/12/2024

Representative Loan Example

Borrowing £1,000 against a diamond ring:

  • Loan Amount: £1,000
  • Monthly Interest (6.0%): £60
  • Total Repayment After 1 Month: £1,060
  • Interest Rate: 72% p.a. (Fixed)
  • Representative APR: 82.4%
  • Maximum loan term: 7 months
  • Pawnbroking loans are secured on your items. If the loan is not repaid, the item will be sold to recover the debt. 25% will be deducted from the sale price to cover sale costs.

 

Why Miltons Diamonds?

  • No additional fees – what you see is what you pay
  • Highly competitive rates compared to high street pawnbrokers
  • Full compensation cover included with every loan
  • Covers both the loan amount and interest in the unlikely event of loss

 

Visit Miltons Diamonds Today

Whether you're looking to borrow against your jewellery or luxury watch, Miltons Diamonds is here to help. Visit one of our branches or contact us to learn more.

Miltons Diamonds – Trusted pawnbrokers for over a century.

 

Complaints Procedure

We take customer satisfaction seriously. While we have a full Complaints Procedure available in-store, we’re proud to say that no complaint has ever reached the National Pawnbrokers Association or the Financial Ombudsman Service.

If you would like to make a complaint, please get in touch with us or come visit us in store and we will aim to resolve this issue by the end of the next working day. If you would like more information on this, click here.

For more information, visit: www.financial-ombudsman.org.uk 

 

Authorised and regulated by the Financial Conduct Authority:

  • ERIC G MILTON LTD – FRN: 739805
  • G S MILTON LTD – FRN: 738787

 

Contact Our Team For Further Assistance

If you have any questions about our pawnbroking services or would like to discuss an item you'd like to pawn, our support team is available to help.

Simply give us a call, send an enquiry online, or visit your nearest Miltons Diamonds store for expert guidance and support. We're committed to making the process as straightforward and stress-free as possible.

Useful Information

Click here to download our Debt Charity Leaflet.

Click here to download Miltons Consecutive Loans Information.

Click here to download Miltons Part Payment Information.

Click here to download Information on how we sell an unredeemed pledge.

Click here to download Treating Customers Fairly Information.

Click here to download Eric G Milton Ltd & G S Milton Ltd Privacy Notice.