upland
Member of DD Central
Posts: 479 
Likes: 175
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Post by upland on Jun 9, 2018 13:13:12 GMT
For me its a step in the right direction but its early days yet.
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jnm21
Posts: 441
Likes: 167
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Post by jnm21 on Jun 10, 2018 9:41:49 GMT
Agree upland that it is a good step, but dwarfed by the issues! Until we get clarification on their new setup plus apologies for the disgusting treatment, I wouldn't think of investing further. |
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Post by davidjones on Jul 3, 2018 10:18:30 GMT
Agree upland that it is a good step, but dwarfed by the issues! Until we get clarification on their new setup plus apologies for the disgusting treatment, I wouldn't think of investing further. Good morning jnm21. With regards to how the reserve fund is set up by investing in a deal on reserve, you will accrue interest daily which will be paid as a cashback the day the deal goes live. On the same day this cashback is paid, you will begin to accrue interest as normal, which will be repaid along with capital on the day the deal closes. If you withdraw reserve funds before the deal goes live, you will lose your cashback. In the unlikely event that the loan does not complete we will return your funds to your Kuflink wallet within 1 working day. If the deal does not complete you will not receive cashback on your reserved funds. this hopefully will answer those questions as to whether we should pay in to a reserve account or not. why not earn money while you wait?
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Post by debaser on Jul 21, 2018 13:57:19 GMT
Hello davidjones, I don't think I understand the reserving. Does it effectively give us the interest early, calculated daily, but paid by Kuflink instead of the borrower? Or is it giving something else (it's referred to as cashback).
Can you give a representative example. For the sake of easy numbers, suppose I reserved £1000 on a 7% opportunity that was 10 days from closing. What do I get if the loan goes live?
Do I get it immediately or when the loan is repaid?
Is it put into my available funds?
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Post by davidjones on Jul 23, 2018 8:28:16 GMT
Hello davidjones , I don't think I understand the reserving. Does it effectively give us the interest early, calculated daily, but paid by Kuflink instead of the borrower? Or is it giving something else (it's referred to as cashback).
Can you give a representative example. For the sake of easy numbers, suppose I reserved £1000 on a 7% opportunity that was 10 days from closing. What do I get if the loan goes live?
Do I get it immediately or when the loan is repaid?
Is it put into my available funds?
By investing in a deal on reserve, you will accrue interest daily which will be paid as a cashback the day the deal goes live. On the same day this cashback is paid, you will begin to accrue interest as normal, which will be repaid along with capital on the day the deal closes. If you withdraw reserve funds before the deal goes live, you will lose your cashback. In the unlikely event that the loan does not complete we will return your funds to your Kuflink wallet within 1 working day. If the deal does not complete you will not receive cashback on your reserved funds. An example using your figures above would result in £1.91 being paid in to your wallet as a cashback.
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Post by pmjenkins on Oct 1, 2018 18:15:05 GMT
Has anyone else not received their cashback?
I'm still awaiting cashback for the Sixth Avenue and Water Lane loans which I believe went live on Aug 23rd and Sep 6th respectively.
Kuflink have been looking into it since Sep 11th.......
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Post by pmjenkins on Oct 3, 2018 11:18:05 GMT
Has anyone else not received their cashback?
I'm still awaiting cashback for the Sixth Avenue and Water Lane loans which I believe went live on Aug 23rd and Sep 6th respectively.
Kuflink have been looking into it since Sep 11th.......
My outstanding cashbacks were paid today.
FYI
For anyone who is trying to match cashback payments to reserved loans, the Deal ID is included in the transaction reference e.g. CB-RESERVE-136-32637 refers to Deal ID 136.
The Deal ID for your loan can be found by hovering over the Deal Name (using a desktop browser) in the My Investment Portfolio listing and checking the underlying URL in the status bar. e.g. invest.kuflink.co.uk/deals/136
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