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canythould43 ha respondido a Already invested in Unbolted?The platform offers pawnshop style loans to the general public with very liquid assets. These types of assets can be sold very quickly upon default. P -
The principal of the loan is protected by the Provision Trust. Unbolted transfers 1% of the principal of every loan made out of its own fees to the Provision Trust.
All lenders are covered by the Provision Trust against any risk of shortfall in recovery of loan principal, except for lenders of Gold Loans who are protected by the Gold Trust for their entire dues including the interest -
Unbolted is regulated by the UK Government’s Financial Conduct Authority #663780 under full permissions. FCA regulation is nothing like the FSCS (Financial Services Compensation Scheme), which covers consumers when they deposit money in banks. The FCA answers to the UK Parliament and has the ability to pursue criminal action against companies that violate its standards.
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canythould43 ha publicado un nuevo enlaceSkin in the Game: Unbolted only makes money when lenders make money https://unbolted.com Unbolted makes no money on any loan on our platform if the lender's principal is not paid back in full.
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Unbolted operates a provision fund which can be utilised to cover any shortfall in the recovery of the loan principal on the sale of a pledged asset. It’s important to note that this fund cannot be considered a guarantee as it remains subject to sufficient funds being available.
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Loans on the Unbolted platform are all secured against underlying personal assets. In addition, certain loans have an additional layer of security
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Unbolted have announced that that they will cease providing their ‘Gold Trust protection’ for new gold/precious metal loans. As a result of this reduced protection, lenders will benefit from increased interest rates.
The platform offers pawnshop style loans to the general public with very liquid assets. These types of assets can be sold very quickly upon default. Pawnshops typically do better in economic downturns than they do in times of prosperity as people will borrow against personal assets when they are unable to get an unsecured personal loans. LTV’s are usually very low as defaults can be high, so pawnshops need to make sure they can always recoup capital.