jonno
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nil satis nisi optimum
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Post by jonno on Jul 26, 2023 13:48:45 GMT
I do exactly the same as you Ace re investing monthly income and face the same dilemma. I don't think I'm going to sell out, rather I'm going to hang around like a PITA with my small unwelcome investments until they finally pay back. Just another thought, will re-terms be treated as new investments and de-minimis holdings be divested? |
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Post by Ace on Jul 26, 2023 13:53:12 GMT
The minimum of £ 500 only applies to self select, the Autoinvest option will still allow smaller investments in loans. Each auto investment will have a £500 minimum. Obviously, the amount per loan within that will be much lower. One of the problems with auto is that they are fixed terms that can't take advantage of the SM.
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spareapennyor2
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Post by spareapennyor2 on Jul 26, 2023 13:53:33 GMT
only 3 loans left which keep being re - term extension
looks like Oct 24 before finally out
getting too old now to wait to see repayments
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firedog
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Post by firedog on Jul 26, 2023 13:59:59 GMT
The minimum of £ 500 only applies to self select, the Autoinvest option will still allow smaller investments in loans. Each auto investment will have a £500 minimum. Obviously, the amount per loan within that will be much lower. One of the problems with auto is that they are fixed terms that can't take advantage of the SM. I suppose, on the more positive side of being a fixed investment, they also mature on a set date, rather than risk being delayed or re-termed ad nauseam. More than half my Kuflink investments are now fixed term and I don't regret it. The improved rates coming next week might be a good alternative for those who wish to stay in Kuflink. The real irritation in this – because these aren't life-or-death changes - is the piecemeal fashion in which they're being invoked. A company that knows the direction it's heading in doesn't make these seemingly incoherent changes week after week.
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firedog
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Post by firedog on Jul 26, 2023 14:03:52 GMT
Just another thought, will re-terms be treated as new investments and de-minimis holdings be divested? And on a similar note, will be be able to sell holdings under £500 on the secondary market, or are we effectively tied in to those deals until they mature?
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scooter
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Post by scooter on Jul 26, 2023 14:17:43 GMT
"We are constantly reviewing the feedback we receive from our investors and make suitable changes where necessary."
So who sent feedback to this effect then? You weren't brave enough to post it on here were you? "Please Kuflink, can you make a minimum investment of £500 as this would make it a much better proposition for my porfolio?"
Where is the upside for investors? They don't even pretend there is one.
But as we now know they are listening...
Scrap the Isa withdrawal fee.
Set late payment fees at the time of investment.
Put an extra "F " in your name.
Set more realistic loan payback times
Make your isa properly flexible.
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dave2
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Post by dave2 on Jul 26, 2023 14:18:46 GMT
This section from the FAQ link contained within Gurbindah's e-mail:
Seemingly repaid Auto investments may be reinvested without having the £500 minimum amount?
Is that what re-term means?
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69m
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Post by 69m on Jul 26, 2023 16:01:02 GMT
I don't believe any of the guff about providing the "best experience" or "serving you better." It's probably designed to force more lenders to use Auto Invest rather than Select Invest, to ensure that some of the less attractive loans (and there is an increasing number of them) get filled. My prediction is that the next stage of Kuflink's master plan will see Select Invest disappearing altogether.
Looking at the FAQs, the only bit of good news is that sales and purchases on the Secondary Market are exempt from the £500 minimum.
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deltron
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Post by deltron on Jul 26, 2023 16:01:47 GMT
Knock-on effect: loans take even longer to fill than usual, necessitating an eventual full switch to institutional lending, probably within a year.
Because this measure isn't going to attract more retail investors, quite the opposite.
So watch this space for the customary "We've enjoyed our time bringing steady returns to investors, but circumstances are such that . . . blah, blah, blah" email.
Also, too many of their loans are still offering around 6.8% for 70% LTVs (closer to 85% for the 90-day sale period). That's really poor value in the current environment.
I won't be quitting but I will be massively reducing the number of loans I invest in. Only sub-50% LTVs and min. 8% rates after this change.
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baz657
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Post by baz657 on Jul 26, 2023 17:16:18 GMT
That'll be me looking for a new home for my tiny 10k (and a bit) portfolio, made up of mainly £50 - £100 stakes. £500 minimum per deal wont allow me to diversify nearly enough.
I'm getting pretty annoyed at these companies that ask us to have faith in them, dip our toes in their waters, and then  on us from a great height when they're successful. It doesn't make up for the ones that weren't successful that also on us and left us wanting.
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SteveK
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Post by SteveK on Jul 26, 2023 18:08:26 GMT
Only sub-50% LTVs and min. 8% rates after this change. And 'Good, clean credit score'.
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rscal
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Post by rscal on Jul 26, 2023 18:31:26 GMT
Re. Secondary Market: they have said before now they intended to make it possible to sell 'parts' of loans (including those after receiving part payments) so how will that undertaking now be squared with this new 'minimum' requirement? I would suggest if that is still live they should 'fix' the SM now so there could be the smoothest possible transition to having minimum investments. And therefore wait for some months.
They monitor Trust Pilot reviews - which I have found can be edited so you can either leave a new one or go back and (say) reduce your score for any review you have aready given. If enough people do that with some brief edit like "[Reason for change: downgraded due to poor introduction of minimum investment restrictions with minimum notice of change]" that ought to put the wind up them b/c it will show up on a fall from the current average score of '4.6'
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Post by Ace on Jul 26, 2023 19:34:16 GMT
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nyneil
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Post by nyneil on Jul 26, 2023 19:38:15 GMT
Re. Secondary Market: they have said before now they intended to make it possible to sell 'parts' of loans (including those after receiving part payments) so how will that undertaking now be squared with this new 'minimum' requirement? I would suggest if that is still live they should 'fix' the SM now so there could be the smoothest possible transition to having minimum investments. And therefore wait for some months. They monitor Trust Pilot reviews - which I have found can be edited so you can either leave a new one or go back and (say) reduce your score for any review you have aready given. If enough people do that with some brief edit like "[Reason for change: downgraded due to poor introduction of minimum investment restrictions with minimum notice of change]" that ought to put the wind up them b/c it will show up on a fall from the current average score of '4.6' I don't think they'll be bothered about some negative comments about minimum investment value. As soon as they were granted an institutional funding stream, the writing was on the wall for most of the retail investors who supported them while they became established. HNW can join the party, for now....
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 26, 2023 19:45:55 GMT
Re. Secondary Market: they have said before now they intended to make it possible to sell 'parts' of loans (including those after receiving part payments) so how will that undertaking now be squared with this new 'minimum' requirement? I would suggest if that is still live they should 'fix' the SM now so there could be the smoothest possible transition to having minimum investments. And therefore wait for some months. They monitor Trust Pilot reviews - which I have found can be edited so you can either leave a new one or go back and (say) reduce your score for any review you have aready given. If enough people do that with some brief edit like "[Reason for change: downgraded due to poor introduction of minimum investment restrictions with minimum notice of change]" that ought to put the wind up them b/c it will show up on a fall from the current average score of '4.6' I don't think they'll be bothered about some negative comments about minimum investment value. As soon as they were granted an institutional funding stream, the writing was on the wall for most of the retail investors who supported them while they became established. HNW can join the party, for now.... They havent got an institutional funding stream, they have a bank loan ...
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on us from a great height when they're successful. It doesn't make up for the ones that weren't successful that also 
