Pawnbrokers conjuring up images of penniless widows handing over their wedding rings for a few pounds could not be further from the truth.

In these times where every penny counts, the people walking through Pickwick’s doors in Maidstone are more likely to be Lobb-booted and Armani-suited City types pawning Rolex Oysters or their wives’ diamond necklaces.

Nathan Finch, 38, a partner in the business with a branch in Week Street, said he has spent all his working life trying to ditch the Dickensian image of pawnbrokers.

Lending money against goods was thought up by the Chinese 3,000 years ago. Unlike his predecessors, most pawnbrokers now handle only jewellery. In the past people could pop anything from clothes to cars and washing machines to wigs.

He said: “Dickens hated pawnbrokers and it is rather tongue in cheek that my two partners and I decided to call the business Pickwick, after Pickwick Papers.”

He went on: “It is far more likely that people in need of a financial boost turn to a pawnbroker rather than their bank manager. Most of our customers come in and it takes just minutes to sort out a loan. You could not do that with your bank manager, if he would give you one in the first place.”

With the current financial climate, Mr Finch said customers had definitely increased, with pawnbrokers now seen as life savers. As well as lending money, Mr Finch buys jewellery and gold, which is at an all time high of £8 a gram.

He explained someone wanting a £50 loan on an item of jewellery has to pay back £4 a month interest.

He said: “The good thing about the business is not only do they get a loan but if they pay the interest, they also get back their piece of jewellery. If they only borrow the money for a month, it has cost them just £4.”

Mr Finch, who has been in the business since he was 17, was a one time assistant secretary general of the National Pawnbrokers Association and is still in charge of their PR.

Since the Consumer Credit Act 1974, pawnbroking is seen in a more respectable light, being more strictly regulated, both by the government and by the industry itself.

“If someone does not redeem an item we cannot just sell it and keep the profit. The customers is entitled to what ever profit is left over after our expenses.

“Most of our customers have cash flow issues. Eighty-five per cent of the items are redeemed. It is all about speed. People don’t want to wait to save up for their new mobile phone, a hi-fi or a holiday. They will come and pawn something, buy what they want and then in a month or so come back and redeem it when their cash flow is better.”

One of the more bizarre items he has been asked to lend money on was a set of gold false teeth which brought their owner £250, the teeth later being redeemed. His topmost loan was for about £40,000.

“I have also been asked about a race horse, a helicopter and a fishing trawler but declined them all. Firearms are not allowed which was a shame because someone brought in a beautiful pair of Holland and Holland shotguns at the end of the season.”

Mr Finch said many of his customers were regulars bringing in the same ring or watch each time, needing cash to tide them over until pay day or to meet an unexpectedly large bill.

“Most of these people are asset rich but cash poor. Nothing could be further from the truth than the story of the little old lady and her wedding ring.”

Did you know?

The old nursery rhyme Pop Goes the Weasel is about pawnbrokers.

Popping is a slang term for pawning items in return for money. Weasel is a corruption of whistle - in cockney rhyming slang 'whistle and flute’ i.e. suit.