rocky1
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Post by rocky1 on Jan 31, 2023 13:49:43 GMT
kuflink default interest 2021 was £606270. default interest 2022 was £721589 good thing having audited accounts.
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scooter
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Post by scooter on Feb 7, 2023 11:47:46 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. I have finally had some money returned and found only one investment over 7% (just) that i didn't already have. I also noted that interest rates never really went up, just the risk rating. I like Kuflink, they have not offended me with misinformation or no information or changing goal posts etc, but I took my money out. I have many late paybacks with CP but every single one has penalty interest. I dont have many late payers with PL but again, penalty interest is added. Am i missing something, am I doing the right thing? I am never ahead of the P2P game....
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Post by overthehill on Feb 7, 2023 16:32:48 GMT
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. I have finally had some money returned and found only one investment over 7% (just) that i didn't already have. I also noted that interest rates never really went up, just the risk rating. I like Kuflink, they have not offended me with misinformation or no information or changing goal posts etc, but I took my money out. I have many late paybacks with CP but every single one has penalty interest. I dont have many late payers with PL but again, penalty interest is added. Am i missing something, am I doing the right thing? I am never ahead of the P2P game.... Interest rate rises were a ruse. I've been struggling to invest in any recent offerings and CP has just stuck the boot in, to Kuflink and others. There is still a lot that I like about KUF.
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Post by Badly Drawn Stickman on Feb 13, 2023 18:26:25 GMT
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. I have finally had some money returned and found only one investment over 7% (just) that i didn't already have. I also noted that interest rates never really went up, just the risk rating. I like Kuflink, they have not offended me with misinformation or no information or changing goal posts etc, but I took my money out. I have many late paybacks with CP but every single one has penalty interest. I dont have many late payers with PL but again, penalty interest is added. Am i missing something, am I doing the right thing? I am never ahead of the P2P game.... I would suggest it is a good time not to be investing in property lending at all currently. I am in full withdrawal mode on CP and Kuflink simply not a risk worth taking. Having just received what seems to have become an almost daily round of emails extending loans or exploring extending loans, it has become quite evident that borrowers are happy/have no choice but to stay with Kuflink. If, and it seems they do, charge penalty interest for this 'service' it should be passed on to lenders minus reasonable costs. It really should not even need requesting any longer, its simply the right thing to do. These extensions clearly weaken the underlying asset value, in an uncertain environment the risk is amplified well beyond its starting point.
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rscal
Posts: 906
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Post by rscal on Feb 16, 2023 18:03:24 GMT
meanwhile, there is no link to the secondary market page for a few days now I notice
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Post by Ace on Feb 16, 2023 18:10:16 GMT
meanwhile, there is no link to the secondary market page for a few days now I notice There's a functioning link to it on my dashboard page.
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rscal
Posts: 906
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Post by rscal on Feb 16, 2023 18:29:14 GMT
Not for me. I go to the 'secondary market' link at the foot of the page and clicking takes me to a 'sign in' saying "secondard market". Signing in merely takes me back to my original page (my 'dashboard') and not the SM.
(Scrub that. I had forgotten how to get there. I click on a panel named "marketplace")
Anyway... glad we got there in the end!
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Post by Ace on Feb 16, 2023 18:31:38 GMT
Not for me. I go to the 'secondary market' link at the foot of the page and clicking takes me to a 'sign in' saying "secondard market". Signing in merely takes me back to my original page (my 'dashboard') and not the SM. That's a link to the SM info page. There's a very large box mid-page called Marketplace that works for me.
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rscal
Posts: 906
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Post by rscal on Mar 8, 2023 10:49:01 GMT
Check out the details for Deal 1395 (which I hold). Here let me help: As can be seen it has recently been uprated by 0.34% for borrower and 0.19% for lender. Don't ask me why.
(Any more spotted?)
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dave2
Member of DD Central
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Post by dave2 on Mar 9, 2023 2:35:32 GMT
Check out the details for Deal 1395 (which I hold). Here let me help: As can be seen it has recently been uprated by 0.34% for borrower and 0.19% for lender. Don't ask me why. (Any more spotted?) e-mail from Kuflink:
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m2btj
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Post by m2btj on Mar 14, 2023 8:35:51 GMT
Email update from Kuflink Monday, 13/03/23:
We have made some changes to the platform when re-terms are agreed upon with our borrowers.
When loans are re-termed, you will see that the rates offered may change as we will now pass on the proportional rate increase from the borrower to our investors in the deals.
As you will know from our recent loan update, we have now re-termed Lodge Road B98, so you will earn more interest. As the rate has increased, you may want to review any listing(s) regarding this deal you posted on the secondary market.
Please refer to your A36h Agreement schedule/Corporate Lender agreement of the deal you invested in by going to the portfolio section to see your new and original rates.
There is no action for you to take as you will automatically move to the new rate.
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firedog
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Post by firedog on Mar 14, 2023 8:57:11 GMT
When loans are re-termed, you will see that the rates offered may change as we will now pass on the proportional rate increase from the borrower to our investors in the deals.
As you will know from our recent loan update, we have now re-termed Lodge Road B98, so you will earn more interest. As the rate has increased, you may want to review any listing(s) regarding this deal you posted on the secondary market.
On the face of it this sounds great: an increased rate is good in itself and similar to what CrowdProperty offers, but also a positive for those who were planning to leave the deal at the end of the original term, they can sell on the secondary market at a much more attractive rate. Those who tend to sell their loans shortly before they are due for fear they might be extended may well now hold on to them a little longer. One thing I wonder about though: what happens when interest rates fall? With this approach, would loans be automatically re-termed at lower rates?
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scooter
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Post by scooter on Mar 14, 2023 10:38:27 GMT
I congratulate them for listening to investors, a bit of a first for P2P. 👍 If they are still listening.... I feel like there seems to be little insentive for borrowers to proactively seek to end there loans on the right day. I say this based on the fact that most don't. I understand overruns and sales markets and difficult mortgage markets etc. So if I do, why don't the borrowers? They seem to the investor to drift upto and past the end date and investors still get nothing until a reterm is organised. So good job, right direction, good platform, great staff....keep listening.
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p2pfan
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Full-Time Investor
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Post by p2pfan on Mar 14, 2023 15:07:55 GMT
This is marvellous news indeed.
A big pat on the back for KufLink.
I hope it's actually enacted now and lenders are paid extra for 're-termed' loans. It'd be refreshing if, for once, a Peer-to-Peer network didn't just bend over backwards to appease borrowers.
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firedog
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Post by firedog on Mar 14, 2023 16:23:08 GMT
This is marvellous news indeed. A big pat on the back for KufLink. I hope it's actually enacted now and lenders are paid extra for 're-termed' loans. It'd be refreshing if, for once, a Peer-to-Peer network didn't just bend over backwards to appease borrowers. It's definitely enacted - one of my recently extended investments is now earning 9.5%.
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