Windows Phone Internals is a new tool that can allow you to unlock the bootloader of some of Lumia devices. One can enable Root Access on the phone or create and flash Custom ROM’s after unlocking the Bootloader. The tool can also create backup-images of the phone and access the file-system in Mass Storage mode. The tool supports most versions of Windows Phone 8.1 and Windows 10 Mobile.
You can download the tool from here. Check the videos below to see the tool in action.
Just remember that you may end up harming your devices and its warranty by using this tool. Fun and Risk are all yours!!
Thanks everyone for sending this tip.