scooter
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Post by scooter on Jul 4, 2022 16:40:06 GMT
You only pay for the loan capital not the interest when you buy secondhand. The seller gets the accumulated interest up to the sale and then the remaining interest of the loan transfers to the buyer.
. Please learn how to use the quote feature. Now I've got someone else's comments attributed to me. Please delete your last post in this thread. Do you mean me? What have I done wrong.... Sorry
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Post by overthehill on Jul 4, 2022 16:52:00 GMT
. Please learn how to use the quote feature. Now I've got someone else's comments attributed to me. Please delete your last post in this thread. Do you mean me? What have I done wrong.... Sorry
I think it was uksoul. It's been tidied up now so just ignore.
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Post by df on Jul 4, 2022 23:16:39 GMT
Someone's not kidding about selling b4 the maturity of loans today. I have just checked and there are 90 loan parts totalling c.20k Now reduced to 32. I've never seen that many on SM. Interesting. I wonder if this is just a momentum or the beginning of new reality... Looking at the variety, prevailing value range and the range of expiry dates it looks like most of these loan parts could be offered by one investor who is either reducing or getting out... just a speculation
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jcb208
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Post by jcb208 on Oct 6, 2022 15:57:01 GMT
Too many loans being kicked down the road now,had another today requesting a 3-month extension, not as though you can sell on the market place
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scooter
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Post by scooter on Oct 27, 2022 14:58:01 GMT
Since I started with Kuflink I have had 8 loans which should have repaid: 2 did 1 has, but 3 months late. 5 are still being kicked down the road. 6m, 5m & 3x1m 1 isn't repayable until 2023, but has already asked for longer....
Not sure what I think about this, I am on the fence, but increasingly irritated by the phrase: "The good news is that you will still continue to earn interest during this time."
It seems extensions are easy to ask for and as the market is now very different even the penalty interest probably seems a good rate. The fact that Kuflink keep the PI might by some be seen as self-interested bias....
The interest rates are good enough to stick with for now, but when I want to sell everyone will have the same thought.
If Kuflink read this forum, I guess my hope is that they are giving their future plan as much thought as I am.
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Post by df on Oct 27, 2022 16:51:19 GMT
Since I started with Kuflink I have had 8 loans which should have repaid: 2 did 1 has, but 3 months late. 5 are still being kicked down the road. 6m, 5m & 3x1m 1 isn't repayable until 2023, but has already asked for longer.... Not sure what I think about this, I am on the fence, but increasingly irritated by the phrase: "The good news is that you will still continue to earn interest during this time."It seems extensions are easy to ask for and as the market is now very different even the penalty interest probably seems a good rate. The fact that Kuflink keep the PI might by some be seen as self-interested bias.... The interest rates are good enough to stick with for now, but when I want to sell everyone will have the same thought. If Kuflink read this forum, I guess my hope is that they are giving their future plan as much thought as I am. Delays and extensions are normal in property lending. However, I do question myself whether it is still appropriate for me to invest at under 7%. It's unlikely that under 7%-ers will be sellable in 6 months time.
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scooter
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Post by scooter on Oct 27, 2022 16:58:12 GMT
Absolutely. If it doesn't start with a 7 it is not a loan for me. Just look at the secondary market, there is very little to consider buying. It is not the extensions that bother me so much as the way they are handled. Proplend..... need i go on?
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Post by birdie on Oct 28, 2022 8:36:31 GMT
I have just the same feeling about investing bellow 7% and with over 80 loans I'm getting a bit fed up of the vast majority being extended just before maturity.
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dh1
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Post by dh1 on Oct 28, 2022 16:23:15 GMT
The additional restriction that Kuflink imposes on IFISA money (ie that you cannot have monthly interest) makes all this even more irksome. The risk/return no longer makes sense, so I'm moving out of IFISA. I suspect that if rates rise further, the rest of my investment will follow....
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rscal
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Post by rscal on Nov 15, 2022 15:35:46 GMT
The additional restriction that Kuflink imposes on IFISA money (ie that you cannot have monthly interest) makes all this even more irksome. The risk/return no longer makes sense, so I'm moving out of IFISA. I suspect that if rates rise further, the rest of my investment will follow.... Don't overlook there's a £35 moving away fee (although it costs nothing to move out of the ISA wrapper one-way of course)
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dh1
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Post by dh1 on Nov 25, 2022 19:54:04 GMT
Thanks for the reminder, rscal. I'd already spotted that but I'm hoping that Kuf will thank me for moaning to them about the lack of the monthly option and their subsequent removal of that block along with the positive responses here by not charging the fee.
The weather is fine here in cloud cuckoo land...!
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rscal
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Post by rscal on Nov 26, 2022 18:29:51 GMT
Thanks for the reminder, rscal . I'd already spotted that but I'm hoping that Kuf will thank me for moaning to them about the lack of the monthly option and their subsequent removal of that block along with the positive responses here by not charging the fee. The weather is fine here in cloud cuckoo land...!
Some Arguments to use:Flat rate .. who else charges such a fee? No. of transfers in >> out, therefore KUF is already doing 'work' of >> 'cost' for free taking the two-way process as essentially a single activity to be supported/funded. They may claim a lack of experience in transfers out is inherently costly/uncertain [as hardly anyone 'wants' to move away from KUF] for them - hence the fee. The equity argument: any fee should be pro-rata at least in part. E.g 1% [min £5] of amount - making £3500 a break even figure... hmm too high still, I would try asking for 0.25% [min £5] as '0.25%' is the secondary market fee for selling and we've accepted that The requirement to hold ISA funds to term ['non-flexible'] when your funds can only mature one at a time - unless you are (say) an anniversary/full allowance fixed term investor. Basically a fee makes no rational sense and is generally unfair - so just ask they trim interest by 0.1% or so [Given their Borrower/Investor margins are already approaching 50% and investors aren't put out, who's going to notice the difference?]
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dh1
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Post by dh1 on Nov 26, 2022 18:56:09 GMT
Out of interest, MoneyThing charges £50 for each transfer out; Ablrate £100 (although you get a 1 "free" each year at the moment). Ablrate put it clearly; £100 is what their ISA service suppliers (Goji) charge them for transfers out and they (Ablrate) are a business..... Flipping the coin, Proplend don't charge anything.
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rscal
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Post by rscal on Jan 21, 2023 19:39:50 GMT
Out of interest, MoneyThing charges £50 for each transfer out; Ablrate £100 (although you get a 1 "free" each year at the moment). Ablrate put it clearly; £100 is what their ISA service suppliers (Goji) charge them for transfers out and they (Ablrate) are a business..... Flipping the coin, Proplend don't charge anything.
Interestingly Goji also provides service to AC but there's no fees there on transfers away.
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Post by Ace on Jan 21, 2023 20:33:52 GMT
Out of interest, MoneyThing charges £50 for each transfer out; Ablrate £100 (although you get a 1 "free" each year at the moment). Ablrate put it clearly; £100 is what their ISA service suppliers (Goji) charge them for transfers out and they (Ablrate) are a business..... Flipping the coin, Proplend don't charge anything.
Interestingly Goji also provides service to AC but there's no fees there on transfers away.Goji charge £35 for ISA transfers out from their own accounts, according to this: www.goji.investments/investors-terms-conditions/.
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