p2pfan
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Post by p2pfan on Jan 31, 2021 14:46:33 GMT
I am exhausted from all the day-to-day work involved in manually investing into loans on quite a few P2P platforms and so my focus will be on auto-investing going forward. Therefore, I was seriously considering the auto-invest service on Kuflink (I am already auto-investing on other P2P sites).
It has quite a few positives. For instance, there is significant diversification, with 77 loans in total at the current time, and the average LTV is a reasonable 59.38%.
However, the Auto-Invest service has quite a few negatives e.g. interest is only paid annually; you're locked in for 1, 3 or 5 years with no exit option; the interest rates advertised are quite low; the interest rates are "up to" so could be lowered any time; there is no Provision Fund or internal "first loss" investment into the loans; and, perhaps most worryingly, there are quite a few "Tier 1" higher risk loans in the Auto-Invest product.
What are your thoughts on Kuflink's Auto-Invest?
Thanks.
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oldtimer
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Post by oldtimer on Jan 31, 2021 15:09:48 GMT
Personaly I stick to select invest. The new loans are normally added on a Friday pm so you just need to check once a week and you would catch most of them. You can then opt for monthly income or payment at term. They do also send new loan emails out.
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Post by Ace on Jan 31, 2021 15:37:24 GMT
Hi p2pfan, I agree with oldtimer. Just a clarification to your post above: It's the higher tiered loans that carry the higher risk, not the Tier 1 loans. Tier 1 is the lowest risk tier. Have you looked at Proplend (£1k minimum per loan) and HNW Lending (£10k minimum) for other autoinvest accounts? |
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ozboy
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Post by ozboy on Jan 31, 2021 15:53:32 GMT
I would strongly urge not investing in ANY Platform's "Auto Invest" feature.
Just my two bob's worth.
You read it here.
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dave4
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Post by dave4 on Jan 31, 2021 16:06:51 GMT
Linky thingy broken
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Post by Ace on Jan 31, 2021 16:11:57 GMT
I would strongly urge not investing in ANY Platform's "Auto Invest" feature. Just my two bob's worth. You read it here. There are two distinct types of autoinvest accounts: one where you have no say in which loans your cash is invested in (e.g. Kuflink, HNW Lending and Loanpad), and one where your cash is auto invested into loans that you are able to select, or at least opt out of (e.g. CrowdProperty and Proplend). I'm guessing that the first type is the one that ozboy is particularly averse to. Personally, I'm happy with the auto accounts of Loanpad, CrowdProperty and Proplend. I'm also happy to invest with Kuflink and HNW Lending, but prefer not to use their auto accounts.
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p2pfan
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Post by p2pfan on Feb 21, 2021 15:08:07 GMT
I would strongly urge not investing in ANY Platform's "Auto Invest" feature. Just my two bob's worth. You read it here. Appreciate the input. Why would you suggest staying clear of Kuflink's Auto-Invest please?
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dave4
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Post by dave4 on Feb 21, 2021 18:03:51 GMT
Because it invests in all loans regardless, so you can be overweight in a lender through multiple loans or tranches. Besides kuflinks loans tend to hang around for a good 24 hours to a week or more to fill, so plenty of time to log in and manually control where funds go.
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alibaba
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Post by alibaba on Feb 24, 2021 10:26:23 GMT
Do Kuflink send out emails when new loans become available?
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Post by spareapennyor2 on Feb 24, 2021 10:46:41 GMT
yes check Communication Preferences alibaba |
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alibaba
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Post by alibaba on Feb 24, 2021 11:13:07 GMT
Will do, many thanks
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dave4
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Post by dave4 on Feb 24, 2021 14:28:38 GMT
Also very good at sending e mails if a loan is canceled / delayed. They are usually not in depth. But platform chat or e mail inquiries are very helpful.
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69m
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Post by 69m on Sept 10, 2021 18:45:16 GMT
Interesting to note that the just-published 2019/2020 annual accounts for Kuflink Bridging Ltd include £6.6M of outstanding loans to directors or related parties (page 35).
£5.3M of the £6.6M was funded via the P2P platform, using the Auto Invest product only. The bulk of that amount could have been a single loan, because the concentration risk section (page 11) states that the portfolio's largest loan of £4.4M was lent to a related party.
There's not necessarily anything untoward about this, especially if the credit acceptance, security and interest rate policies were in line with those applied to any other borrower. Kuflink has fully disclosed this information, too (at least in the accounts).
It's also important to remember that the figures quoted above were the situation on 30 June 2020 - things might have changed a lot since then.
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rocky1
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Post by rocky1 on Sept 11, 2021 5:28:00 GMT
a lot of stuff going on with kuflink at the moment.within the group of companies,directors,related parties etc.many high risk loans now being handed to borrowers before looking for funding off lenders.mind you car park tier1 should be ok cant go wrong with tarmac and white lines really[can you?].the directors cannot be risking millions of pounds without some form of clawback .what i am really asking without trying to cause any ructions on here is. in the unlikely event of platform failure in the future and we have seen many times what orderly wind down plans are worth when it comes to it. will these loans end up some how come before lenders returns in the scramble to take as much of lenders money as possible from returns of the loan book.which will really only be lenders money left to pay all costs,creditors and the rest of the circus that usually follows.
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dave4
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Post by dave4 on Nov 11, 2022 18:12:27 GMT
A brief cash back bonus offer launched. link |
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