"Second Schedule Notice to be Exhibited in Every Pawnbrokers Premises Pawnbrokers Act, 1964
Interest on Loans
1. Interest shall be charged on any loan made under the Pawnbrokers Act, 1964, at the rate of pence in respect of every £1.00 lent for each month during which the pledge remains in pawn.
These charges are equivalent to an annual percentage rate of per cent.
Notes:
(1) If the term of the loan is less than one month it will be charged for as one month.
(2) After the first month, a part of a month exceeding 7 days will be charged for as a month and a part of a month not exceeding 7 days will not be charged for.
(3) Where the loan is less than £1.00, it will be charged for as £1.00. Where it exceeds £1.00 or any even multiple of £1.00 any odd fraction of £1.00 will not be charged for.
|
for valuation fee on each £5 or part of £5 value put by pawnbroker on the pledge |
pence. |
Charge on Inspection of Sale Book and Auctioneer's Catalogue