Max Jones’s car body repair shop business was suffering. Overdue invoices were stacked up high in his in-tray and the number of customers booking in was rapidly decreasing.
Mr Jones, from Ashtead, Surrey, made £3,000 by selling this gold to Prestige Pawnbrokers and he used the money to pay off hisA pawnbroker is someone who lends money according to the value of goods left with them. When you leave your goods with the pawnbroker, they must give you a receipt known as a ticket.They will usually keep the goods for at least six months but you can get them back at any time by paying off the loan plus interest.
James Constantinou, founder of the moneylender, said: “There has been a 40 per cent increase in our gold business and it is mainly driven by people struggling to pay higher mortgages and afford the still rising cost of running a home. Gold spot prices have risen to £1,490 per ounce, he said, and gold futures have boomed by 14.49 per cent since January while the Bank of England reported that mortgage arrears hit an eight year high earlier this year.have come down but there is no let up on the pressures families are feeling so with gold prices running so high, it makes sense to realise the value of gold jewellery to make life easier.
Simon Trevethick, head of communications at debt charity StepChange, fears that the worst is yet to come with the colder months fast approaching and