sussexpeer
Member of DD Central
If you don't make a plan, you'll end up where you're headed.
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Post by sussexpeer on Apr 20, 2021 9:31:32 GMT
Defaulted loan, the charge property is now on with Rightmove at £350,000 less than the valuation figure. But still plenty of equity left due to a low original LTV.
The initial 12 month loan was due to be redeemed last August (2020).
A beautiful property, backing onto the Thames with its own mooring. The owners have other properties and businesses in the Middle East.
Any takers?
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rocky1
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Post by rocky1 on Apr 20, 2021 10:43:31 GMT
should be no problem for tier 1 lenders with the kuflink stake and low LTV. the sale price will probably go quite a bit lower.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Apr 20, 2021 10:43:57 GMT
Not in this loan, nor have i a boat, bit interested to see the outcome. (favorable i suspect).
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nyneil
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Post by nyneil on Apr 20, 2021 12:33:44 GMT
The housing market is VERY buoyant ATM, desirable properties are often selling above the asking price. One to watch.
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rocky1
Member of DD Central
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Post by rocky1 on Apr 21, 2021 16:32:55 GMT
the good news is you will continue to earn interest.do kuflink charge the borrower default interest when a loan is defaulted ? if so will any of this be passed on to lenders ?
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Post by Ace on Apr 21, 2021 16:47:04 GMT
the good news is you will continue to earn interest.do kuflink charge the borrower default interest when a loan is defaulted ? if so will any of this be passed on to lenders ? I'm not aware of ever receiving any default interest on Kuflink, but this seems to be the rather inconclusive clause from the Ts&Cs:
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sussexpeer
Member of DD Central
If you don't make a plan, you'll end up where you're headed.
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Post by sussexpeer on Jan 26, 2022 11:03:25 GMT
Aaaand... breathe. Once again, Kuflink's excellent default-chasing department has come good. I had a defaulted Teir 2 investment in the D***** R**ch loan and have just received all of my capital back plus due interest. Currently, out of 42 loans I have 41 "Performing" and just one in "Pending Update Status". Well done Kuflink!!  |
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Post by uksoul on Jan 26, 2022 12:22:37 GMT
Aaaand... breathe. Once again, Kuflink's excellent default-chasing department has come good. I had a defaulted Teir 2 investment in the D***** R**ch loan and have just received all of my capital back plus due interest. Currently, out of 42 loans I have 41 "Performing" and just one in "Pending Update Status". Well done Kuflink!!  Yeah they are excellent with recouping investment in defaulted loans. I had a considerable amount in that loan so very happy 😊😊.
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