brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 385
Likes: 387
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Post by brianlom1 on Apr 29, 2018 21:35:43 GMT
Thank you for your patience whilst we reviewed your comments. We welcome your feedback and would like to thank you for your support and for being a part of Kuflink. Without our community of investors we wouldn’t be where we are today – one of the fastest growing property-backed P2P lenders in the UK. We are successful because we cater for our customers. As per investor demand we have replaced our 20% stake with a 20% first loss, providing increased availability to our investors. Kuflink is one of a handful of platforms that has zero investor losses. We are constantly investing further into our infrastructure to stay ahead of the curve. Tomorrow we celebrate our 1-year anniversary since we became authorised and regulated by the Financial Conduct Authority. Our investors have never lost a penny and all our opportunities are backed by UK property! If you have any further questions, please get in touch with us via email at hello@kuflink.co.uk. Kind regards Narinder Khattoare CEO Hi Narinder, As far as I'm concerned, the 20% 'skin in the game' was your USP. I recently opened a K***link account as I'm looking to diversify my investments. As things stand, your platform will not figure greatly in my plans. Brian
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Apr 30, 2018 10:40:23 GMT
Indeed.
I think either they have misjudged how people would react, or perhaps they are slightly delusional.
For instance, I got an email asking to vote for the 'Best Use of Marketing' which I find slightly cretinous. They acquired customers not because of the quality of any marketing, but offering absurdly high rates for people referring new customers, and social media meant this was spread around far and wide because it gave referrers vested interests to do so.
Over the long-term I actually think it might be the worst use of marketing, because indirectly the costs of the campaign meant that the funding for 20% first skin was then removed, which has now resulted in Kuflink offering a rather poor product. I think I'd even go as far to say that ultimately, it will result in platform failure. I just don't see where the appetite is going forward at those rates - and the last offering is hardly indicative of anything considering the amount of incentive cash still kicking around.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
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Post by ozboy on Apr 30, 2018 12:14:51 GMT
"As per investor demand" .............. where have I heard that before?!
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jnm21
Posts: 441
Likes: 166
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Post by jnm21 on Apr 30, 2018 22:13:06 GMT
Question - has anyone hooked their reservations off the back of the insulating comms and negative outlook for the platform as a result?
I only have a small amount, but I am tempted.
Taking a large portion of the money off the table a week before go live would loudly tell them what we think!
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
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Post by littleoldlady on May 1, 2018 6:12:09 GMT
Question - has anyone hooked their reservations off the back of the insulating comms and negative outlook for the platform as a result? I only have a small amount, but I am tempted. Taking a large portion of the money off the table a week before go live would loudly tell them what we think! Good idea. Just done mine and withdrawn all cash.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
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Post by littleoldlady on May 1, 2018 6:29:19 GMT
The change to our proposition provides you with the same protection against losses that you have always had. The difference is that we no longer co-invest 20% upfront. You would only feel the true benefit of our 20% co-investment if a loss were to occur, and none of our investors have ever lost a penny to date. The concept of covering 20% first loss is what our USP has always been centered around - this is the purpose of the 20% stake. It is important to highlight that not every single loan on our platform is going to go into default, this is highly unlikely, and so having a 20% stake in every opportunity is not required – those funds can be used to increase our loan portfolio and thus the number of opportunities on our platform. We can still provide the same guarantee to our investors in the form of 20% loss protection without the need to set aside 20% of every loan amount, but rather ensure that our provision fund is substantial enough to cover losses based on past performance of our loans. Thank you Rachel Do you have a Compliance officer? Have you checked with the FCA that you can guarantee 20% first loss? Every other platform with a PF makes it clear that the use of the PF is discretionary and not guaranteed and they say that the reason is that if it were then it would be classified as insurance and covered by relevant onerous regulations. Posting on this forum with it's thousands of members would IMO be considered an official statement of policy by the company.
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jnm21
Posts: 441
Likes: 166
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Post by jnm21 on May 1, 2018 7:07:22 GMT
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Post by hari on May 6, 2018 10:23:03 GMT
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jnm21
Posts: 441
Likes: 166
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Post by jnm21 on May 6, 2018 12:47:32 GMT
Can I suggest that we all post on the other thread? No point posting in two similar threads. Would it be worth a mod locking this thread?
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star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
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Post by star dust on May 6, 2018 15:52:44 GMT
Mod Hat On/ As requested, two posts have been moved out into the 'survey' thread, and this thread has now been locked. The discussion can continue in the 'survey' thread here.
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