1 user Likes Skint4achange's post - ozboy
06-12-2019, 06:21 PM
Have just logged on to find that we have to accept new T's&C's again.
It appears that the Gold loans are paying more (Closer to previous levels) but standard loans and business loans now appear to be rolled into one.
Not sure by the text if there is still a provisional fund now for standard loans as the interest rate has increased. Text below:
Gold Loans - 0.65% per monthLoans secured against pawned gold or silver assets, valued at bullion prices. Easy to value and easier to sale on default. LTV of 70% to 80%. Platform buys derivative contracts to manage gold price risk.
Standard / Business Loans - 0.80% per monthLoans made against all other luxury assets. Conservatively valued and carefully underwritten. For high value loans, we ask for monthly interest payments; additionally for business loans we insist on director PG. LTV of 40% to 80%, depending on liquidity of asset.
Working Capital Loans - up to 1.00% per monthLoans made to dealers of used luxury watches, secured against revolving stock held in Unbolted's possession. LTV of 75% with watches valued at trade disposal prices. Interest is paid monhtly.
Monthly interest paid of 0.80% + a bonus interest rate depending on total amount of investment.
It appears that the Gold loans are paying more (Closer to previous levels) but standard loans and business loans now appear to be rolled into one.
Not sure by the text if there is still a provisional fund now for standard loans as the interest rate has increased. Text below:
Gold Loans - 0.65% per monthLoans secured against pawned gold or silver assets, valued at bullion prices. Easy to value and easier to sale on default. LTV of 70% to 80%. Platform buys derivative contracts to manage gold price risk.
Standard / Business Loans - 0.80% per monthLoans made against all other luxury assets. Conservatively valued and carefully underwritten. For high value loans, we ask for monthly interest payments; additionally for business loans we insist on director PG. LTV of 40% to 80%, depending on liquidity of asset.
Working Capital Loans - up to 1.00% per monthLoans made to dealers of used luxury watches, secured against revolving stock held in Unbolted's possession. LTV of 75% with watches valued at trade disposal prices. Interest is paid monhtly.
Monthly interest paid of 0.80% + a bonus interest rate depending on total amount of investment.
- +0.20% for total investment of £20,000 or more
- +0.15% for total investment of £10,000 or more
- +0.10% for total investment of £5,000 or more