What are the key activities of the business?

The Company's principal activity is pawnbroking. We also offer second hand and new jewellery retailing, cheque cashing, pay day advances, unsecured loans and money transfer/exchange.

What is a typical pawnbroking transaction at Albemarle & Bond?

A typical pawn broking loan is secured by gold jewellery for a period of up to six months. Monthly charges on the loan are typically 6-7.9%. There is technically no limit to the amount of the loan but we issue a high volume of low value loans with an average loan value of £140. The loan period is for up to six months during which time the customer can collect their jewellery which is safely stored, by repaying the loan and the interest owing at any time.

No credit checks or application form is required, and unlike many lending businesses, the customer's credit rating is not affected if they are unable to repay the loan.

Is the pawnbroking industry regulated?

Yes - the business is regulated by the Consumer Credit Act, supervised by the Office of Fair Trading. Albemarle & Bond operates a stringent code of conduct and is a member of the National Pawnbrokers Association, the official body of the trade. In addition, the Cheque Cashing business is a member of the British Cheque Cashers Association, and the Speedloans business is a member of the Consumer Credit Trade Association (CCTA), and abides by their codes, rules and regulations. Albemarle operates to established, high standards and places a strong emphasis on staff training.
The Office of Fair Trading - www.oft.gov.uk
The National Pawnbrokers Association - www.thenpa.com
The British Cheque Cashers Assocation - www.bcca.co.uk
The Consumer Credit Trade Association - www.ccta.co.uk

Do you charge interest at market rates?

Yes. Our average loan value of £140 is low and typically this is over a period of up to six months, and in many cases is repaid in only one or two months for which there is no penalty. The product a customer pledges is used as collateral to secure a loan, so there is no risk of spiralling debt and customers' credit ratings are not affected. There are no hidden charges and our rates are considerably lower than some other lending institutions which are unlikely to provide fast and simple access to low value loans. This is a crucial service for many people who would not otherwise be able to access the money they need; a lot of institutions are unwilling to offer such low value loans.

Do most customers lose the merchandise that they have pledged?

On the contrary, approximately 80% of loans are redeemed. Like many retail and lending businesses, we rely on repeat customers who trust us to safeguard their possessions, as many pledge the same items over and over again to provide themselves with short term financing.

What do you do with items which are not redeemed?

Items which are not redeemed are sold through our stores or sold as scrap gold.

Do you only offer ex pawn jewellery as part of your retailing services?

We offer good value new jewellery to augment our ex-pledge stock to give our customers a wider choice of goods and improve our competitiveness. Herbert Brown, which we acquired in July 2007, offers a wide range of new jewellery alongside ex-pledge stock. Over 75% of our retail sales are ex-pledge items.

What is involved in Cheque Cashing, Payday loans and Speedloans?

Cheque Cashing provides a fast way of obtaining cash for customers with limited or no access to high street banks. We require proof of identity and address on the first visit and full cash payout is usually completed within minutes. Albemarle and Bond are members of the BCCA http://www.bcca.co.uk (British Cheque Cashers Association).

In Payday Advances, we provide short term unsecured loans of up to £700 to customers who require cash flow between meeting their immediate living costs and the time of receipt of their wages. Customers will need proof of address, guarantee card and their cheque book.

In Speedloan, we provide customers who require a loan available immediately over a longer term. Loans of £300, £500 and £600 are available repayable over 12 months and £900 and £1,000 loans repayable over 18 months are available to existing customers.

How many stores does Albemarle & Bond have?

Albemarle & Bond is the UK's market leading pawnbroking business across the country providing pawnbroking, jewellery retailing and associated financial services. We opened our first shop in 1983 in Bristol and we have subsequently expanded to 85. Following the acquisition of Herbert Brown and further store openings, we now have 115 branches in total.

What regional areas do you currently operate in?

Our stores are located across the UK with a strong presence in London, Midlands, North East and North West of the UK.