Unbolted loan performance

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A record to be proud of - 100%+ recovery on defaulted loans

Remember that your capital is at risk with no FSCS protection. Past performance is not a guarantee of future returns and we cannot guarantee that the security on the loan will cover full capital and interest.

asset loans

Performance Summary (as of 13 Oct 2025)

  • 8781 loans with a cumulative loan amount of £67.3 million have been repaid or renewed.
  • Another 802 loans with a cumulative loan amount of £4.8 million have defaulted. This equates to a default rate of 7.9% by number and 6.4% by value.
  • Of these defaulted loans, recovery has been completed on 754 loans with a recovery rate of approximately 117.4% of net amount due to lenders.
  • Many more loans, although not defaulted, have been repaid through the sale of assets under the instruction of the borrower. For example, loans made as pre-auction advance have been repaid from auction proceeds and some high-value loans have been repaid through organised sales to dealers.
  • Please find our annual outcomes statement here.
lowest cost

Performance Tables (as of 13 Oct 2025)

For explanation of the loan types see further below.


by number Active and performing Repaid or Renewed Defaulted and recovered Defaulted and awaiting recovery Default rate (by %)
Consumers Loans against Gold 311 3081 183 6 5.3%
Consumers Loans against Non-Gold 219 5234 527 19 9.1%
HNW and Business Loans 20 466 44 23 12.1%
Total 550 8781 754 48 7.9%

by value (£) Active and performing Repaid or Renewed Defaulted and recovered Defaulted and awaiting recovery Default rate (by %)
Consumers Loans against Gold 1,463,663 11,115,023 764,973 24,975 5.9%
Consumers Loans against Non-Gold 1,170,963 29,814,018 2,518,068 154,097 7.9%
HNW and Business Loans 789,635 26,353,752 1,148,276 190,007 4.7%
Total 3,424,261 67,282,793 4,431,317 369,079 6.4%
Default and recovery statistics
by number All recovered Full recovery Interest shortfall only Principal shortfall
Consumers Loans against Gold 183 173 6 4
Consumers Loans against Non-Gold 527 410 46 71

by value (£) Net amount due to lenders1 Net sale proceeds received Gross interest shortfall Gross principal shortfall 2 Recovery rate (%)
Consumers Loans against Gold 755,183 922,730 1,456 246 122.2%
Consumers Loans against Non-Gold 2,738,466 3,175,606 127,106 52,891 116.0%
Total 3,493,649 4,098,337 128,562 53,137 117.3%

1. Net of any payments made by the borrower.

2. Repaid by platform - so zero net loss to investors.

Loan classifications
  • Consumer loans made against gold

    These are the easiest to value and dispose in default. They are also the easiest for risk management purposes as the value of the underlying collateral can be hedged.
  • Consumer loans against non-gold assets

    These loans are typically lower value and risk on these loans is managed through a combination of diversification and careful underwriting.
  • Loans made to business and high net worth customers

    These are typically higher-value loans and are carefully underwritten, with additional due-diligence conducted on value and ownership of assets, as well as full recourse to the borrower.