Borro Reviews, Loan Calculator and Complaints

(30 customer reviews)

Average Customer Rating

Is this you?

Acceptance Criteria

You need to provide: Proof of address and proof of ID (passport/driving license and utility bills)
You don't need to have good credit history
You need to be 18 years of age or older to apply
It doesn't matter if you are employed, unemployed, on benefits, a carer, a homemaker or on Job Seeker's Allowance, anyone can apply

You don't need to have been a UK resident for any specified length of time
You need to have a UK bank account
You must be the legal owner of the Item(s) that you wish to borrow against or have permission to use them for a loan
Your Item/s must be free of any and all claims, liens, or anything else that might adversely affect the value of your Item(s) or your ability to borrow against it, such as a hire purchase agreement

You must be legally capable of entering into a binding agreement
You are not acting as another's agent or representative for this sale

Loan Details

APR

39.1% - 68.8%

Representative APR

68.8%

Loan Amount

£1,000 - £1,000,000

Repayment Period

The contract length is 6 months.

You can pay off your loan as soon as you like with no early redemption penalty.

You can apply for an extension providing you are up to date with your interest payments.

Repayment Method

Bank transfer

Credit/Debit Card Payment

Speed To Payout

24 - 48 hours

Arrangement Fee

No Fee

Payment Holidays

None Available

Payout Method

Transferred into your account.

Income Protection Available

No

Average Customer Review

(30 customer reviews)

Loanfinder Ranking

258th for APR of 423 loans in the UK (See Lender League Table By APR)
29th for Customer Satisfaction (See Customer Reviews)

About Borro

Borro offer short term loans of £1000 to £1,000,000 against assets of value including jewellery, luxury watches, fine art, antiques, sculptures, luxury cars and other high value items. More details can be found here, www.borro.com/what-we-loan-against/loan-against-watches

To apply, you will need to complete the short application form on their website - this will ask you what items you wish to lend against and the estimated value. They will give you a reference number which you need to keep hold of and they will send you an email to confirm your application - check your Spam/Junk mail if it doesn't go into your Inbox. You then need to send your valuables to them via an insured courier service (that borro pays for). They will evaluate your valuables and then give you an offer, depending on how much your item/s are worth. More info about the application process can be found here: www.borro.com/how-it-works

If you accept their online contract, the money will be in your account within 24 hours. After paying the loan back, your valuables will be returned within 24 hours via the same delivery method you sent them.