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Post by overthehill on Sept 6, 2023 11:12:32 GMT
I've been draining the swamp almost everywhere including KUF before doing any serious investment again.
I've lost the plot with all the recent Kuflink activity. Am I right in saying that immediate interest (in the form of cashback) is only paid on reserved loans. This seems odd to me now as their new loans can take months to fill.
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Post by uksoul on Sept 6, 2023 11:23:00 GMT
I've been draining the swamp almost everywhere including KUF before doing any serious investment again.
I've lost the plot with all the recent Kuflink activity. Am I right in saying that immediate interest (in the form of cashback) is only paid on reserved loans. This seems odd to me now as their new loans can take months to fill.
Cashback is paid on reserved loans as soon as they go live. Often given before the loan is fully reserved.
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Post by overthehill on Sept 6, 2023 11:32:59 GMT
I've been draining the swamp almost everywhere including KUF before doing any serious investment again.
I've lost the plot with all the recent Kuflink activity. Am I right in saying that immediate interest (in the form of cashback) is only paid on reserved loans. This seems odd to me now as their new loans can take months to fill.
Cashback is paid on reserved loans as soon as they go live. Often given before the loan is fully reserved.
So unless it is a reserved deal, interest only starts accruing when loan fills and goes live ? I know that is normal for other sites but KUF loans can take months to fill.
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Post by uksoul on Sept 6, 2023 13:04:25 GMT
Cashback is paid on reserved loans as soon as they go live. Often given before the loan is fully reserved.
So unless it is a reserved deal, interest only starts accruing when loan fills and goes live ? I know that is normal for other sites but KUF loans can take months to fill.
Interest accrues from the moment you invest regardless if the loan fills or not.
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jnm21
Posts: 441 
Likes: 166
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Post by jnm21 on Sept 7, 2023 17:31:01 GMT
Did they not change it recently that if a loan is cancelled you get nothing?
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Post by uksoul on Sept 7, 2023 17:34:46 GMT
Did they not change it recently that if a loan is cancelled you get nothing? That's basically correct but recently a loan was cancelled after several weeks and interest paid with the returned investment.
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Post by Ace on Sept 7, 2023 17:36:19 GMT
Did they not change it recently that if a loan is cancelled you get nothing? Not sure how recently, but yes, if a reserve loan is cancelled in less than 28 days then no interest or cashback is paid.
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Post by overthehill on Sept 25, 2023 17:44:51 GMT
Have very little confidence in their Automatic Valuation Method. The algorithm appears to calculate a value of between 0k->200k higher than any other sales in the same street. The buyers are presumably paying a lot less. We don't need surveyors any longer then ?
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Post by df on Sept 25, 2023 20:49:13 GMT
Have very little confidence in their Automatic Valuation Method. The algorithm appears to calculate a value of between 0k->200k higher than any other sales in the same street. The buyers are presumably paying a lot less. We don't need surveyors any longer then ?
No, we don't need RICS valuers any longer, algorithm calculator does the same sloppy job, but probably more cost effective for lending platforms (good for them). The system is designed to make you believe that in the event of default your capital will be recovered and you shouldn't lose any money. I'm not taking LTV figures seriously, no matter if they are RICS or algorithm.
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Post by birdie on Oct 3, 2023 7:24:34 GMT
Well the cupboard is bare, had a couple of repayments yesterday and when I logged on this morning to re-invest there was only one left at 7.2% and two on the secondary market, both in the thousands so not for me, come on Kuflink my money wont stay there long earning nothing and once it's gone it won't be coming back.
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Post by overthehill on Oct 3, 2023 8:12:44 GMT
Well the cupboard is bare, had a couple of repayments yesterday and when I logged on this morning to re-invest there was only one left at 7.2% and two on the secondary market, both in the thousands so not for me, come on Kuflink my money wont stay there long earning nothing and once it's gone it won't be coming back.
Precisely the problem with their non flexible ISA but it is better than bad lending. I'm expecting more short term bridging loans although the last three to fill were the same borrower so I was only interested in one.
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rscal
Posts: 914
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Post by rscal on Oct 4, 2023 8:07:15 GMT
Well the cupboard is bare, had a couple of repayments yesterday and when I logged on this morning to re-invest there was only one left at 7.2% and two on the secondary market, both in the thousands so not for me, come on Kuflink my money wont stay there long earning nothing and once it's gone it won't be coming back.
Precisely the problem with their non flexible ISA but it is better than bad lending. I'm expecting more short term bridging loans although the last three to fill were the same borrower so I was only interested in one.
Because of issues of achieving repayment (or perhaps the 'three buses' issue -i.e. inconveniently timed repayment)?
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