SteveK
Member of DD Central
Posts: 59
Likes: 31
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Post by SteveK on Apr 28, 2023 18:58:09 GMT
Tonight received 5 loan updates:
1. 18 months term from October 2021. 3 month re-term with increased interest.
2. 12 month term from May 2022. Client unable to repay this loan, seeking a short re-term. Over third of capital repaid recently.
3. 1 year loan from October 2021. Consideration of a short re-term. No increased interest rate as of yet. 4. 3 month loan from Sept 2022. Client unable to repay this loan, Kuflink chasing for updates. Continued failed promises to repay. Is this a a future default?
5. 9-month term from July 2022. 6 month re-term with no mention of increased interest yet.
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Post by overthehill on Apr 28, 2023 19:20:53 GMT
Tonight received 5 loan updates:
1. 18 months term from October 2021. 3 month re-term with increased interest.
2. 12 month term from May 2022. Client unable to repay this loan, seeking a short re-term. Over third of capital repaid recently.
3. 1 year loan from October 2021. Consideration of a short re-term. No increased interest rate as of yet. 4. 3 month loan from Sept 2022. Client unable to repay this loan, Kuflink chasing for updates. Continued failed promises to repay. Is this a a future default?
5. 9-month term from July 2022. 6 month re-term with no mention of increased interest yet.
Extensions and penalty interest are an untidy hotch-potch at KUF. I can't be bothered keeping up or auditing the payments. I think it is fair to say biased towards the borrower and/or KUF in the majority of cases.
Generally I've been slowly moving from development to residential/commercial bridging for some time as the consumer financial pain level has some way to go. Interest rates will go up another 0.25% at next BoE meeting, inflation still at 10%, cost of energy and fuel still at racket levels, government help ended unless you're on universal credit.
KUF have an excellent record so far and the underlying reasons for the extensions determine whether there is anything to be concerned about e.g. massive overspend or bad foundations is not good!
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deltron
Member of DD Central
Posts: 54
Likes: 66
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Post by deltron on Jun 1, 2023 2:34:02 GMT
A little surprised at the lack of concern being posted on here about (for me anyway) the recent deluge of receiverships and loan redemption issues on the platform. This feels like the first big test for Kuflink's impressive track record of not losing any investor money so far. The main experience I've had of receivers in the P2P sphere has been with AC, which is why my knees are trembling ever so slightly, especially for loans in the 75% LTV bracket (OMV). Feel free to post reassuring things about how everything will turn out fine in the end!
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Post by uksoul on Jun 1, 2023 10:00:19 GMT
A little surprised at the lack concern being posted on here about (for me anyway) the recent deluge of receiverships and loan redemption issues on the platform. This feels like the first big test for Kuflink's impressive track record of not losing any investor money so far. The main experience I've had of receivers in the P2P sphere has been with AC, which is why my knees are trembling ever so slightly, especially for loans in the 75% LTV bracket (OMV). Feel free to post reassuring things about how everything will turn out fine in the end! The current climate will see an upturn in loan repayment delays and receiverships for the next year or so.I have had several loans in receivership in my 4 years with Kuflink they have all been repaid. Have several now in receivership a couple to be redeemed shortly. I`m not concerned at the moment as Kuflink is very proactive with handling delinquent loans and they have a perfect record so far of no investor loss. I`m more proactive though selling on the secondary market than before to reduce risk of delays/non repayment.
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scooter
Member of DD Central
Posts: 352
Likes: 328
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Post by scooter on Jun 1, 2023 12:28:55 GMT
A little surprised at the lack concern being posted on here about (for me anyway) the recent deluge of receiverships and loan redemption issues on the platform. This feels like the first big test for Kuflink's impressive track record of not losing any investor money so far. The main experience I've had of receivers in the P2P sphere has been with AC, which is why my knees are trembling ever so slightly, especially for loans in the 75% LTV bracket (OMV). Feel free to post reassuring things about how everything will turn out fine in the end! The current climate will see an upturn in loan repayment delays and receiverships for the next year or so.I have had several loans in receivership in my 4 years with Kuflink they have all been repaid. Have several now in receivership a couple to be redeemed shortly. I`m not concerned at the moment as Kuflink is very proactive with handling delinquent loans and they have a perfect record so far of no investor loss. I`m more proactive though selling on the secondary market than before to reduce risk of delayed/non repayment. "Extensions and penalty interest are an untidy hotch-potch at KUF" quoting overthehill. Is the reason I am not reinvesting those that pay back. Also the rediculous isa transfer fee. The Ombudsmen always say, you knew what you signed up to.... With Kuflink i increasingly feel like i don't know. Gut feeling is everything in P2P as you have little else to rely on.
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Post by uksoul on Jun 1, 2023 12:46:20 GMT
The current climate will see an upturn in loan repayment delays and receiverships for the next year or so.I have had several loans in receivership in my 4 years with Kuflink they have all been repaid. Have several now in receivership a couple to be redeemed shortly. I`m not concerned at the moment as Kuflink is very proactive with handling delinquent loans and they have a perfect record so far of no investor loss. I`m more proactive though selling on the secondary market than before to reduce risk of delayed/non repayment. "Extensions and penalty interest are an untidy hotch-potch at KUF" quoting overthehill. Is the reason I am not reinvesting those that pay back. Also the rediculous isa transfer fee. The Ombudsmen always say, you knew what you signed up to.... With Kuflink i increasingly feel like i don't know. Gut feeling is everything in P2P as you have little else to rely on. Yeah the extensions/penalty interest could be handled better. I`m reinvesting but much less than before.
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Post by overthehill on Jun 2, 2023 12:27:03 GMT
Account holders also got an extensive and sincere email almost certainly in response to certain recent events in the forum. I don't have a problem with Kuflink or Crowdproperty, I've just pulled back from development loans which are getting riskier for no increase in returns during or after the original loan term. I see residential and commercial bridging as a better and safer investment for almost the same return.
I'm not investing a lot in P2P companies where a delinquent loan book equates to extra revenue and profit. You don't have to be a property expert to spot the conflict of interest.
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Post by stevepn on Jun 17, 2023 11:51:26 GMT
A little surprised at the lack of concern being posted on here about (for me anyway) the recent deluge of receiverships and loan redemption issues on the platform. This feels like the first big test for Kuflink's impressive track record of not losing any investor money so far. The main experience I've had of receivers in the P2P sphere has been with AC, which is why my knees are trembling ever so slightly, especially for loans in the 75% LTV bracket (OMV). Feel free to post reassuring things about how everything will turn out fine in the end! My confidence in Kuflink has gone, I have been withdrawing money as fast as I can. I have three loans that are now in default.
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Post by uksoul on Jun 17, 2023 12:11:07 GMT
A little surprised at the lack of concern being posted on here about (for me anyway) the recent deluge of receiverships and loan redemption issues on the platform. This feels like the first big test for Kuflink's impressive track record of not losing any investor money so far. The main experience I've had of receivers in the P2P sphere has been with AC, which is why my knees are trembling ever so slightly, especially for loans in the 75% LTV bracket (OMV). Feel free to post reassuring things about how everything will turn out fine in the end! My confidence in Kuflink has gone, I have been withdrawing money as fast as I can. I have three loans that are now in default. I had 6 delinquent loans but over the past fortnight, 2 have fully repaid, 2 partial repayments been made, one sold, one scheduled to repay shortly. They are on the ball with recovery in my view. but i can understand why some are losing confidence.
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dh1
Member of DD Central
Posts: 373
Likes: 383
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Post by dh1 on Jun 17, 2023 17:50:31 GMT
I have been exiting Kuflink for a while as the returns don't - in my view - justify the risk.
The current - too high - level of defaults underline the risk; Kuflink evidently sees the problem as well!
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jcb208
Member of DD Central
Posts: 820
Likes: 606
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Post by jcb208 on Jul 8, 2023 8:35:23 GMT
Im slowly exiting as well,so many are being kicked down the road now it is taking longer then I thought, I have sold a few on the SM which seems to work well at present.
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ganymede
Member of DD Central
Posts: 299
Likes: 207
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Post by ganymede on Jul 10, 2023 11:04:33 GMT
I'm exiting slowly, just had capital + interest repayment today, as soon as I noticed, i withdrew the cash balance in full, not even looking at the investment offers.
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Post by oliveau on Aug 2, 2023 10:53:04 GMT
I think that current financial uncertainties have led to many loans that are due to expire being unable to secure lending elsewhere. Kuflink do seem to be on top of defaults - certainly seem to be much more proacative than AC and streets ahead of the car crash that was Thincats. I have just got nervous now, having been burned, and badly burned by the two p2p platforms [above.] So I'm slowly withdrawing funds as loans mature, and saving offshore where I can get nearly 5%. However, I do retain confidence in Kuflink, but I just want a quiet life now.
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rscal
Posts: 906
Likes: 499
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Post by rscal on Aug 2, 2023 13:33:50 GMT
I think that current financial uncertainties have led to many loans that are due to expire being unable to secure lending elsewhere. Kuflink do seem to be on top of defaults - certainly seem to be much more proacative than AC and streets ahead of the car crash that was Thincats. I have just got nervous now, having been burned, and badly burned by the two p2p platforms [above.] So I'm slowly withdrawing funds as loans mature, and saving offshore where I can get nearly 5%. However, I do retain confidence in Kuflink, but I just want a quiet life now. Yes, they do still have a '100% record' at returning capital to investors. I think we had become rather complacent above the smoothness of their processes and forget there is a lending counter-party involved in all the actual redemptions and are affected by liquidity issues they cannot control. Yes, I think we should cut them some slack for this.
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Post by uksoul on Sept 22, 2023 11:53:20 GMT
A record 6 loans repaid today for me..
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