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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 26 Jan 2023)

  • 6075 loans with a cumulative loan amount of £43.8 million have been repaid or renewed.
  • Another 571 loans with a cumulative loan amount of £2.3 million have defaulted. This equates to a default rate of 8.0% by number and 4.5% by value.
  • Of these defaulted loans, recovery has been completed on 487 loans with a recovery rate of approximately 130.3% 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.
lowest cost

Performance Tables (as of 26 Jan 2023)

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 183 1875 143 7 6.8%
Consumers Loans against Non-Gold 276 3897 342 70 9.0%
HNW and Business Loans 64 303 2 7 2.4%
Total 523 6075 487 84 8.0%

by value (£) Active and performing Repaid or Renewed Defaulted and recovered Defaulted and awaiting recovery Default rate (by %)
Consumers Loans against Gold 630,287 6,448,676 644,114 71,900 9.2%
Consumers Loans against Non-Gold 2,254,755 21,475,464 935,579 575,716 6.0%
HNW and Business Loans 2,555,671 15,828,073 27,501 55,000 0.4%
Total 5,440,713 43,752,213 1,607,193 702,616 4.5%
Default and recovery statistics
by number All recovered Full recovery Interest shortfall only Principal shortfall
Consumers Loans against Gold 143 136 4 3
Consumers Loans against Non-Gold 342 282 16 44

by value (£) Net amount due to lenders1 Net sale proceeds received Gross interest shortfall Gross principal shortfall 2 Recovery rate (%)
Consumers Loans against Gold 628,821 760,158 423 29 120.9%
Consumers Loans against Non-Gold 998,906 1,361,265 7,592 16,260 136.3%
Total 1,627,727 2,121,423 8,015 16,289 130.3%

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. From a risk perspective we consider these loans to be lower risk than equivalent consumer loans, as all such loans also benefit from full recourse to the borrower as well as regular monthly interest payments.