shimself
Member of DD Central
Posts: 2,563 
Likes: 1,171
|
Post by shimself on Jan 8, 2020 11:42:21 GMT
LTGDV was 35%, but I suspect the place might still be a building site. Defaulted today. K report that they had seen an offer of refinance on Dec 12. K take first loss up to 20%. (I am in part 2, not sure about part 1, nor about ranking if any)
|
|
|
|
Post by uksoul on Jan 8, 2020 12:56:03 GMT
LTGDV was 35%, but I suspect the place might still be a building site. Defaulted today. K report that they had seen an offer of refinance on Dec 12. K take first loss up to 20%. (I am in part 2, not sure about part 1, nor about ranking if any) K has 1st legal charge and have started recovery. They have not lost any investors money yet so hopefully this will continue.
|
|
|
|
Post by pmjenkins on Jan 8, 2020 13:50:11 GMT
I'm in tranche 6.
I would hope that tranches 2+ were not released unless satisfactory progress had been made...
|
|
|
|
Post by expectedvalue on Jan 9, 2020 19:05:13 GMT
Does anyone know how many defaults K have had? I got into this for the bonuses really so I don't actually know much about P2P.
How do you know what tranche you are in? I can't see it anywhere. All I see is part 1.
|
|
|
|
Post by Ace on Jan 9, 2020 22:58:07 GMT
Does anyone know how many defaults K have had? I got into this for the bonuses really so I don't actually know much about P2P. How do you know what tranche you are in? I can't see it anywhere. All I see is part 1. Here's Kuflink's answer from their faqs: Part 1 is tranche 1 in this case, but it shouldn't matter according to the description of part 1, which says that " The risk exposure will remain equal across all tranches", which I take to mean that they all rank pari passu, though strangely this statement is missing from other part descriptions. I think that Kuflink have created a potential problem under certain recovery scenarios though, as they took a 20% stake in parts 1 to 3, but only 5% in parts 4 to 7. They did confirm that they had checked progress before each tranche, but the LTV against the latest 90 day valuation is a whopping 87.8%. Let's hope for a full recovery.
|
|
benaj
Member of DD Central
N/A
Posts: 5,591
Likes: 1,735
|
Post by benaj on Jan 10, 2020 1:28:39 GMT
Does anyone know how many defaults K have had? Right now, there are 114 live loan parts, 1 in arrears, 14 loan parts (6 different loans) in defaults. Past defaults info can be found in the previous portal from "loan updates" in each repaid loan. So far, Kuflink has been very successful in full loan recovery. The SE16 recovery will definitely be the acid test as there are so many loan parts involved.
|
|
shimself
Member of DD Central
Posts: 2,563
Likes: 1,171
|
Post by shimself on May 11, 2020 14:17:05 GMT
I asked over the weekend what was the state of the work S*** - SE16 has the building work been completed?
comes the reply
Hi Stephen, the latest update as of the 14th April 2020 is that -
Due to the current Covid-19 situation, we have allowed the borrowers an informal 3-month extension to enable them to achieve their exit.
Lets try again. Does that mean no?
There is c.£300,000.00 of work required to complete on S****, which is being undertaken at the moment.
Um. Progress is then extremely slow
|
|
