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Post by kuflink on Jun 10, 2019 11:01:16 GMT
jcb208 that's for both capital and interest.
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Post by gravitykillz on Jun 11, 2019 7:19:52 GMT
Just noticed your second question, sorry - yes you're correct, tier 1 ranks above tier 2 in terms of collections. I wonder if investors understand this as tier 2 loans seem to be filling faster than tier 1. Guess ppl are just looking at the interest rate.
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jcb208
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Post by jcb208 on Jun 12, 2019 12:22:35 GMT
Just noticed your second question, sorry - yes you're correct, tier 1 ranks above tier 2 in terms of collections. I wonder if investors understand this as tier 2 loans seem to be filling faster than tier 1. Guess ppl are just looking at the interest rate. I noticed that,as I've been caught out before with ranked loans so I have invested only in the first tier.There is only .4% between them
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Post by gravitykillz on Jun 12, 2019 19:58:32 GMT
As kuflink have never apparently lost any investors money I guess people are taking a risk with tier 2.
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invester
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Post by invester on Jun 14, 2019 17:16:17 GMT
I gotta say that latest loan in SW11 makes no sense to me at all.
A valuation could come up with whatever figure you want as there will be evidence of people trying to shift these at a wide range of prices.
If there is to be a property price crash, it'll be these types of things that suffer first (and already have done).
Even now I reckon you could get a new build of bigger size for £500k, and it seems downward pressures on prices will continue.
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Post by kuflink on Jun 24, 2019 8:47:15 GMT
Hi keystone, Once we're ready to advance the loan to our clients (once the legals are complete), we do so regardless of whether they're fully reserved or not. We top up the extra and keep the opportunity available on the platform as a 'live' deal, so you won't be waiting on the second tier to fill. |
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sussexlender
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Post by sussexlender on Jun 26, 2019 11:22:27 GMT
By topping, do you mean that Kuflink are "investing in the loan" until other investors take over the risk at some later stage?
What is the maximum % that Kuflink is likely to be funding at any one time to enable a loan to go live ?
Please can you explain how that fits in with the new T&C - removing the 15% "skin in the game" which was the original USP of Kuflink?
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littleoldlady
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Post by littleoldlady on Jun 26, 2019 11:29:20 GMT
Originally they took the first 20% of each loan, ranked after our 80%. Then they changed it to their taking the first 5% ranked after our 95% but "guaranteeing" the first 20%. I suppose that this was because they had insufficient capital. Now they have dropped the guarantee, either under instruction from the FCA or because they don't have confidence in their loans.
When they made the first change they claimed it made no difference to us but I said it would probably affect their attitude to repayment risk.
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sussexlender
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Post by sussexlender on Jun 26, 2019 12:39:17 GMT
I recall the changes from 20 to 15%. I was still happy to invest and will continue to do so.
Kuflink have shown themselves to be in control of their loans and until now the communications have been first class. The new T&C, removing the entire % first loss USP should have been set out in a separate e mail with far more notice.
What troubles me about the "topping up" concept is it could mean they are funding upto 100% up front to get the loan "LIVE NOW" then waiting for investors to gradually fill the loan - which I would think is not what the FCA will be approving? you may recall the early days of Saving Steam / Lendy with the Invest now pay later scheme that drew many to the platform.
Perhaps Annie at Kuflink could clarify the position asap on this thread ?
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ganymede
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Post by ganymede on Jul 23, 2019 12:59:58 GMT
Yes I have exactly the same, so rather than reinvest the capital returned plus any interest kuflink I've withdrawn the whole account balance the capital returned and a stray few pence. Checked there was no monthly payment, no interest calls into to question the whole point of reserving loans, when I know of loans elsewhere, that will pay interest. It may be a mistake, in fact I'm sure it's a mistake one that should never be happening. You could end up spending a life time of reinvesting in reserve loans, for capital to be returned each time, and no interest ever.
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jcb208
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Post by jcb208 on Jul 23, 2019 14:44:35 GMT
I'm sure they only pay interest If a loan goes live which is not really a good thing for investors who like to reserve.I withdrew my capital as well when the last 3 were repaid without interest
Reserve deals
1.1. These are deals where the Investor has the opportunity to reserve their stake in the deal before it goes live on Kuflink’s Investor platform.
1.2. Interest will be accrued daily whilst the deal is on Reserve and will be paid to you as a cashback once the deal goes live.
1.3. Should you withdraw your investment prior to the deal going live, you will not be eligible for interest accrued during the reserve period.
1.4. Should the deal not go live (for any reason) the interest accrued will not be payable.
PART
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benaj
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Post by benaj on Jul 23, 2019 14:54:43 GMT
I logged in yesterday to put money in other loan instead. kuflink may need to reconsider the products if tier loans not popular. So far only Tro******** W** - WD3 (2 tier) loans are live. |
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rocky1
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Post by rocky1 on Sept 11, 2019 15:12:17 GMT
hav**hill road latest 3 tier loan of £1.35 million.can kuflink fill this?.do kuflink have/use underwriters on these big ones as lenders seem to be a lot more weary just lately.had a punt on tier 1 anyway lets see how it goes.
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rocky1
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Post by rocky1 on Oct 17, 2019 18:23:38 GMT
any thoughts/comments on the latest batch of 3 tier loans.kuflink will not be taking any stake in these loans to leave more available for lenders[very thoughtful of them]with the way everything is now going with FS and MT and after COLL and LY i have really lost appetite for same borrower multiple loans of millions of pounds.
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Post by uksoul on Oct 17, 2019 18:33:49 GMT
any thoughts/comments on the latest batch of 3 tier loans.kuflink will not be taking any stake in these loans to leave more available for lenders[very thoughtful of them]with the way everything is now going with FS and MT and after COLL and LY i have really lost appetite for same borrower multiple loans of millions of pounds. Kuflink have a 5% Bridging Stake in all the loans as detailed on the loans info page.
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