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 15 Sep 2025)

  • 8700 loans with a cumulative loan amount of £66.5 million have been repaid or renewed.
  • Another 811 loans with a cumulative loan amount of £4.9 million have defaulted. This equates to a default rate of 8.1% by number and 6.6% by value.
  • Of these defaulted loans, recovery has been completed on 749 loans with a recovery rate of approximately 117.3% 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 15 Sep 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 302 3040 182 10 5.4%
Consumers Loans against Non-Gold 210 5199 524 25 9.2%
HNW and Business Loans 20 461 43 27 12.7%
Total 532 8700 749 62 8.1%

by value (£) Active and performing Repaid or Renewed Defaulted and recovered Defaulted and awaiting recovery Default rate (by %)
Consumers Loans against Gold 1,370,576 10,965,953 763,334 51,038 6.2%
Consumers Loans against Non-Gold 1,088,313 29,669,384 2,486,594 215,850 8.1%
HNW and Business Loans 1,162,624 25,880,722 1,139,742 281,981 5.0%
Total 3,621,513 66,516,059 4,389,671 548,869 6.6%
Default and recovery statistics
by number All recovered Full recovery Interest shortfall only Principal shortfall
Consumers Loans against Gold 182 172 6 4
Consumers Loans against Non-Gold 524 408 45 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 753,438 919,931 1,456 246 122.1%
Consumers Loans against Non-Gold 2,704,786 3,131,620 127,014 52,891 115.8%
Total 3,458,224 4,051,552 128,470 53,137 117.2%

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.