The average loan size provided against these types of assets, including diamonds and sapphires, has risen 151% over the past two years.
Paul Aitken, chief executive of borro, said that many people have beautiful jewels and gems sitting in a jewellery box or tucked away in dressing tables without realising their true value.
He said: “Anyone looking for finance could easily be reaping the benefits from the value found in assets like these. borro provides quick and easy access to finance against personal assets without sacrificing pieces and heirlooms that people hold dear.”
Examples of the jewellery held by the personal asset lender include a brilliant-cut five carat diamond set in platinum and yellow gold valued at £100,000 and a pair of three carat Cartier diamond ear studs valued at £40,000.
Aitken added: “Brits are turning to alternative sources of lending for a variety of reasons. Most of our customers are looking to facilitate business transactions and opportunities while others come to us to fund surveys and pay other fees relating to property refinancing. Other reasons include supporting an irregular income, funding holidays and school fees, and helping to pay tax bills and other unexpected expenses.”
