shimself
Member of DD Central
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Post by shimself on Nov 13, 2022 11:21:26 GMT
Does anyone have an idea of what the problem is? Oct 27, 2022 14:05:14 We have been advised by our client that they do not expect the loan to redeem as expected on 02/11/2022. We have requested a full update and this will be provided no later than the 02/12/2022.
Aug 30, 2022 15:51:40 We have now agreed a 3 month extension to allow the clients to exit as originally planned. For reference the original loan end date was 02/08/2022 and this is now 02/11/2022.
Aug 2, 2022 17:35:49 Our clients have advised us that they will not be able to exit this loan by the current end date. We are therefore considering whether a loan extension can be offered, we will update you on progress by 30/08/2022.
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scooter
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Post by scooter on Nov 13, 2022 13:07:16 GMT
Can't get refinancing at the same rate they got 6 months ago with Kuflink......Kuflink think we can charge them more for months and not pass the increase on to investors.... Investors think they have been screwed over.... again! kuflink at some point the worms will turn......I hope you are planning ahead to try to prevent that happening.
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shimself
Member of DD Central
Posts: 2,560
Likes: 1,169
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Post by shimself on Nov 14, 2022 13:38:02 GMT
Can't get refinancing at the same rate they got 6 months ago with Kuflink......Kuflink think we can charge them more for months and not pass the increase on to investors.... Investors think they have been screwed over.... again! kuflink at some point the worms will turn......I hope you are planning ahead to try to prevent that happening. Do we know that they are paying an increased rate?
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scooter
Member of DD Central
Posts: 337
Likes: 302
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Post by scooter on Nov 14, 2022 18:32:19 GMT
Can't get refinancing at the same rate they got 6 months ago with Kuflink......Kuflink think we can charge them more for months and not pass the increase on to investors.... Investors think they have been screwed over.... again! kuflink at some point the worms will turn......I hope you are planning ahead to try to prevent that happening. Do we know that they are paying an increased rate? I spoke to someone a while ago and that is how i understood it. Happy to be wrong...... I like Kuflink, but in a changing and challenging economy they have to adapt accordingly or they become irrelevant. 6% when inflation was 2.5% and bank accounts 1% was great. 6% when inflation is 10% and bank account 3% is not great. If they are extending loans more than 3 months for instance, investors need to be better considered. Lets face it, it is an opportunity for Kuflink to be the first lender to change their policy in favour of investors.... I don't think that has ever happened in p2p.
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Post by uksoul on Nov 14, 2022 19:02:20 GMT
There are a couple of P2P platforms that apply penalty interest for delinquent loans and share it with their investors.
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Post by df on Nov 14, 2022 20:51:08 GMT
Do we know that they are paying an increased rate? I spoke to someone a while ago and that is how i understood it. Happy to be wrong...... I like Kuflink, but in a changing and challenging economy they have to adapt accordingly or they become irrelevant. 6% when inflation was 2.5% and bank accounts 1% was great. 6% when inflation is 10% and bank account 3% is not great. If they are extending loans more than 3 months for instance, investors need to be better considered. Lets face it, it is an opportunity for Kuflink to be the first lender to change their policy in favour of investors.... I don't think that has ever happened in p2p. I've noticed the loan flow has significantly slowed down. It could be that KUF is rethinking their strategy as we speak. It must be very challenging for most existing p2p businesses to operate in this environment.
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Post by kuflinkirlisa on Nov 17, 2022 16:50:18 GMT
Good afternoon all,
Thank you for your comments and tags.
To date, we have not done any re-terms where we have amended rates charged to our clients and so there has been no rate change to our platform deals. We are now looking to amend rates and so our investors will see this feeding through to the platform to reflect the change in rate for the borrower.
Best wishes, The Kuflink team
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deltron
Member of DD Central
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Post by deltron on Jan 21, 2023 5:44:31 GMT
Good afternoon all, Thank you for your comments and tags. To date, we have not done any re-terms where we have amended rates charged to our clients and so there has been no rate change to our platform deals. We are now looking to amend rates and so our investors will see this feeding through to the platform to reflect the change in rate for the borrower. Best wishes, The Kuflink team Hi there,
It's not possible to tell if rates have been increased on the platform so could you provide details of any loans launched in the past 2 months where there has been an uplift in rates? Or any in the near-future too? Also, could you clarify if lenders will benefit from the amended rates to borrowers as it's not explicitly stated above?
Thanks
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p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on Apr 4, 2023 21:48:25 GMT
Good afternoon all, Thank you for your comments and tags. To date, we have not done any re-terms where we have amended rates charged to our clients and so there has been no rate change to our platform deals. We are now looking to amend rates and so our investors will see this feeding through to the platform to reflect the change in rate for the borrower. Best wishes, The Kuflink team Hi there,
It's not possible to tell if rates have been increased on the platform so could you provide details of any loans launched in the past 2 months where there has been an uplift in rates? Or any in the near-future too? Also, could you clarify if lenders will benefit from the amended rates to borrowers as it's not explicitly stated above?
Thanks
No response to your important query. As I imagined, the notifications of increases in interest rates for lenders on defaults/re-terms was largely Public Relations hype with little in the way of follow-through. KF won't give up on their eye-watering margins that easily, and, with them largely continuing to exclusively benefit from increased interest rates on re-terms, they will continue to lick their lips and jump with joy whenever there is a default.
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Post by birdie on Apr 5, 2023 12:39:17 GMT
I have around 6 or 7 loans that have had re-terms and the new rates vary between 8 and 9.65%
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Post by borrower on May 27, 2023 6:37:26 GMT
Hi there,
It's not possible to tell if rates have been increased on the platform so could you provide details of any loans launched in the past 2 months where there has been an uplift in rates? Or any in the near-future too? Also, could you clarify if lenders will benefit from the amended rates to borrowers as it's not explicitly stated above?
Thanks
No response to your important query. As I imagined, the notifications of increases in interest rates for lenders on defaults/re-terms was largely Public Relations hype with little in the way of follow-through. KF won't give up on their eye-watering margins that easily, and, with them largely continuing to exclusively benefit from increased interest rates on re-terms, they will continue to lick their lips and jump with joy whenever there is a default.
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Post by borrower on May 27, 2023 7:03:17 GMT
Hi there, It's not possible to tell if rates have been increased on the platform so could you provide details of any loans launched in the past 2 months where there has been an uplift in rates? Or any in the near-future too? Also, could you clarify if lenders will benefit from the amended rates to borrowers as it's not explicitly stated above? Thanks
No response to your important query. As I imagined, the notifications of increases in interest rates for lenders on defaults/re-terms was largely Public Relations hype with little in the way of follow-through. KF won't give up on their eye-watering margins that easily, and, with them largely continuing to exclusively benefit from increased interest rates on re-terms, they will continue to lick their lips and jump with joy whenever there is a default.
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Post by borrower on May 27, 2023 7:05:13 GMT
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