16-05-2018, 01:33 PM
AC just announce a rate increase, Unbolted announce a fairly hefty cut!!
Last week we published the full loan tape and summary of our portfolio performance. Over a period of three years, we have consistently delivered on recovery of defaulted goods with accurate valuations and speedy disposals.
In recognition of the portfolio performance (and associated reduction of operational risk), we are reducing the interest rates applicable on loans protected by the Gold Trust and Provision Trust. We will also reduce interest rates marginally on sale advance loans by Forum Auctions.
The interest rates that will apply on all new loans completed on or after 18 Feb 2018 will be: ***
Loans protected by the Gold Trust: 0.50% per month (currently 0.65% per month)
Loans protected by the Provision Trust: 0.70% per month (currently 0.85% per month)
Bespoke sale advance loans made through Forum Auctions: 0.70% per month (currently 0.75% to 0.80% per month, depending on LTV)
Bespoke loans to businesses with additional recourse to the directors will continue to be at 0.80% per month.
Any other loans put up for sale on the platform will not be executed through auto-lend.
Thank you for your continued support.
*** EDIT, Unbolted have confirmed the date should read 18th May 2018
Last week we published the full loan tape and summary of our portfolio performance. Over a period of three years, we have consistently delivered on recovery of defaulted goods with accurate valuations and speedy disposals.
In recognition of the portfolio performance (and associated reduction of operational risk), we are reducing the interest rates applicable on loans protected by the Gold Trust and Provision Trust. We will also reduce interest rates marginally on sale advance loans by Forum Auctions.
The interest rates that will apply on all new loans completed on or after 18 Feb 2018 will be: ***
Loans protected by the Gold Trust: 0.50% per month (currently 0.65% per month)
Loans protected by the Provision Trust: 0.70% per month (currently 0.85% per month)
Bespoke sale advance loans made through Forum Auctions: 0.70% per month (currently 0.75% to 0.80% per month, depending on LTV)
Bespoke loans to businesses with additional recourse to the directors will continue to be at 0.80% per month.
Any other loans put up for sale on the platform will not be executed through auto-lend.
Thank you for your continued support.
*** EDIT, Unbolted have confirmed the date should read 18th May 2018