|
Post by c0nfuzed on Jul 22, 2021 10:39:15 GMT
All a bit depressing really.
|
|
dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,009
Likes: 577
|
Post by dave4 on Jul 22, 2021 10:43:59 GMT
Property / building/ development, and refinance are all taking more time and or money than expected, covid ect... don't personally know your portfolio but i have 2 delayed finishes and not loosing sleep (yet). Contact kuff if you have any specific worries ect..
|
|
|
Post by c0nfuzed on Jul 22, 2021 10:47:41 GMT
Yep, i'm encouraged by their 'no investor has lost money' tagline. But starting to see more and more repayment dates missed. Fingers crossed anyway.
|
|
|
Post by overthehill on Jul 22, 2021 11:39:34 GMT
Half ? As it happens I checked for defaults last night and it only showed around 4 or 5 distinct properties in default status. Kuflink unlike many show the status of all loans , not just the ones you're in, assuming the data is 'correct' that deserves credit. Loans automatically change status to pending if it is within 1 month of the agreed end date, I have one of them.
|
|
|
Post by Ace on Jul 22, 2021 11:48:32 GMT
OP is it that you only have a small portfolio, in terms of number of distinct loans rather than amount invested?
My current stats are:
In default: 1 Pending update: 3 Performing: 30
|
|
|
Post by uksoul on Jul 22, 2021 12:43:07 GMT
Yep, i'm encouraged by their 'no investor has lost money' tagline. But starting to see more and more repayment dates missed. Fingers crossed anyway. Yeah repayment dates are increasingly missed but it`s the same with other p2p platforms and this will continue into 2022 due to the economic climate and industry specific factors. I have 6 pending updates and 1 in default but not concerned. When I invest in a loan I always add on 6 months in my mind to the repaid date as I know there are likely delays.
|
|
|
Post by c0nfuzed on Jul 22, 2021 13:11:38 GMT
I have 9 investments and 4 of those are in default or late - by value it's actually about 70%! I'm not panicking, but it's not a great feeling either.
|
|
|
Post by c0nfuzed on Jul 22, 2021 13:13:12 GMT
all 9 are A* or B1 by the way.
|
|
m2btj
Member of DD Central
Posts: 626
Likes: 749
|
Post by m2btj on Jul 23, 2021 6:36:44 GMT
I'm steering well clear of the big development loans! With the current shortages of building materials & pingdemic problems, I expect some of these will go belly up! I'm surprised that Kuflink haven't seen the risks too!
|
|
|
Post by birdie on Jul 23, 2021 7:47:14 GMT
Out of 63 loans I have 5 pending update and no defaults, quite happy with that, Kuflink have been quite good at keeping me informed, I'm a happy customer to date.
|
|
sussexpeer
Member of DD Central
If you don't make a plan, you'll end up where you're headed.
Posts: 65
Likes: 53
|
Post by sussexpeer on Jul 25, 2021 13:09:41 GMT
I have 9 investments and 4 of those are in default or late - by value it's actually about 70%! I'm not panicking, but it's not a great feeling either. That's very unlucky c0nfuzed; as far as I can tell, there's currently only 4 out of 220 Live investments that are in "Default". I have 30 investments, 1 in Default and 1 Pending Status Update. There's plenty of equity in them so I'm not worried at all. Kuflink seem to be pretty good at extracting monies due from non-compliant borrowers.
|
|
rocky1
Member of DD Central
Posts: 1,121
Likes: 1,940
|
Post by rocky1 on Sept 9, 2021 17:33:30 GMT
my 4 defaults are tier 1 loans that have been running now for over 2 years. the good news is you are still earning interest as the update emails keep telling me as the end dates keep moving.my borrowers rates are between 11% and 16%. kuflink must surely be charging default interest on these loans which i imagine will cover their stake money when these are finally sorted and it will be very close for the lenders in tier 2/3 of these loans the longer they continue.
|
|
p2pfan
Member of DD Central
Full-Time Investor
Posts: 745
Likes: 838
|
Post by p2pfan on Sept 9, 2021 20:11:19 GMT
my 4 defaults are tier 1 loans that have been running now for over 2 years. the good news is you are still earning interest as the update emails keep telling me as the end dates keep moving.my borrowers rates are between 11% and 16%. kuflink must surely be charging default interest on these loans which i imagine will cover their stake money when these are finally sorted and it will be very close for the lenders in tier 2/3 of these loans the longer they continue. Kuflink are one of my favourite P2P companies, but, yes, one of the big frustrations with Kuflink, as with most other P2P platforms, is that they keep kicking the can down the road by extending the loan periods again and again and again and it doesn't seem to bother them much. As you say, Kuflink state that lenders will get interest for the extension periods, but that's not the point. The "guaranteed" retained element of the interest ends when the loans extend and, as they are 'problem' loans that have issues and hence not repaying when they claimed they would, they become higher risk profile. Yet the interest stays the same for lenders in the case of non-payments/defaults. Whereas most other P2P platforms pay higher interest rates to lenders in such scenarios.
|
|
|
Post by df on Sept 9, 2021 20:33:53 GMT
my 4 defaults are tier 1 loans that have been running now for over 2 years. the good news is you are still earning interest as the update emails keep telling me as the end dates keep moving.my borrowers rates are between 11% and 16%. kuflink must surely be charging default interest on these loans which i imagine will cover their stake money when these are finally sorted and it will be very close for the lenders in tier 2/3 of these loans the longer they continue. Kuflink are one of my favourite P2P companies, but, yes, one of the big frustrations with Kuflink, as with most other P2P platforms, is that they keep kicking the can down the road by extending the loan periods again and again and again and it doesn't seem to bother them much. As you say, Kuflink state that lenders will get interest for the extension periods, but that's not the point. The "guaranteed" retained element of the interest ends when the loans extend and, as they are 'problem' loans that have issues and hence not repaying when they claimed they would, they become higher risk profile. Yet the interest stays the same for lenders in the case of non-payments/defaults. Whereas most other P2P platforms pay higher interest rates to lenders in such scenarios. In most such scenarios they display higher rates, but when the loan is crystallised we get a capital loss. It’s very rare when the increased rates are paid.
|
|
|
Post by Ace on Sept 9, 2021 21:42:53 GMT
Kuflink are one of my favourite P2P companies, but, yes, one of the big frustrations with Kuflink, as with most other P2P platforms, is that they keep kicking the can down the road by extending the loan periods again and again and again and it doesn't seem to bother them much. As you say, Kuflink state that lenders will get interest for the extension periods, but that's not the point. The "guaranteed" retained element of the interest ends when the loans extend and, as they are 'problem' loans that have issues and hence not repaying when they claimed they would, they become higher risk profile. Yet the interest stays the same for lenders in the case of non-payments/defaults. Whereas most other P2P platforms pay higher interest rates to lenders in such scenarios. In most such scenarios they display higher rates, but when the loan is crystallised we get a capital loss. It’s very rare when the increased rates are paid. On CrowdProperty they usually apply the default rate from the first day that the loan becomes late. So far, the default interest has always been collected, and the whole default interest is paid to lenders. Occasionally they re-term the loan, but in that case the loan is exited so you can choose not to take part in the re-term. They used to give lenders the option to rollover, which I liked, but they don't seem to do this anymore. I believe there were some loans where lenders were forced to rollover, but again they don't seem to do this anymore.
|
|