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Post by Ace on Jul 29, 2023 10:08:32 GMT
A new tab has appeared on each loan page titled "Loan Reterm Information".
This is a welcome addition, as it will save having to look in the loan agreement for the details.
It looks to me to be a work in progress, as it currently specifies the Reterm date, new borrower rate and fees, but the old lender rate (rather than the new reterm rate). Perhaps that is intentional, because the new lender rate is shown in the project headline. A simple table with each row starting with a date and the rest of the row having information relevant from that date would have been clearer IMO, but it's definitely welcome progress for me.
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SteveK
Member of DD Central
Posts: 59
Likes: 31
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Post by SteveK on Jul 29, 2023 11:04:02 GMT
A new tab has appeared on each loan page titled "Loan Reterm Information". This is a welcome addition, as it will save having to look in the loan agreement for the details. It looks to me to be a work in progress, as it currently specifies the Reterm date, new borrower rate and fees, but the old lender rate (rather than the new reterm rate). Perhaps that is intentional, because the new lender rate is shown in the project headline. A simple table with each row starting with a date and the rest of the row having information relevant from that date would have been clearer IMO, but it's definitely welcome progress for me. Thanks for posting that info Ace.
Can I assume that if there is no Reterm info then there is no change to the rate?
This is maybe not related to the new tab but do Kuflink charge any late penalty fees? If so does that go to Kuflink only?
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Post by Ace on Jul 29, 2023 11:15:41 GMT
A new tab has appeared on each loan page titled "Loan Reterm Information". This is a welcome addition, as it will save having to look in the loan agreement for the details. It looks to me to be a work in progress, as it currently specifies the Reterm date, new borrower rate and fees, but the old lender rate (rather than the new reterm rate). Perhaps that is intentional, because the new lender rate is shown in the project headline. A simple table with each row starting with a date and the rest of the row having information relevant from that date would have been clearer IMO, but it's definitely welcome progress for me. Thanks for posting that info Ace.
Can I assume that if there is no Reterm info then there is no change to the rate?
This is maybe not related to the new tab but do Kuflink charge any late penalty fees? If so does that go to Kuflink only?
I would presume that if there's no reterm info there is no reterm, but you'd have to ask Kuflink for a definitive answer. And even then, no platform is immune from mistakes! I would also assume that, if the borrower is subject to default interest, but no reterm, that would not show up in the tab. As for your other question, from Kuflink's T&Cs: I'm not aware of ever having received default interest cashback.
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rscal
Posts: 914
Likes: 503
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Post by rscal on Aug 14, 2023 16:37:07 GMT
I have just noticed Kuflink has added (if indeed it was not there previously)
under the "Loan Information" tab. [The borrower rate is useful as previously you could not find this out without already being invested which gave you access to a PDF 'agreement' sheet]
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Post by Ace on Aug 14, 2023 17:16:49 GMT
I have just noticed Kuflink has added (if indeed it was not there previously) under the "Loan Information" tab. [The borrower rate is useful as previously you could not find this out without already being invested which gave you access to a PDF 'agreement' sheet] The Borrower rate was only present for one of the first 5 loans I checked. Some of the arrangement fees seem to be very large. I'm guessing that they might be a percentage of the total loan rather than the amount being drawn in that tranche. Ddefinitely needs some explanation, as otherwise fairly useless.
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Post by uksoul on Aug 14, 2023 23:37:34 GMT
I have just noticed Kuflink has added (if indeed it was not there previously) under the "Loan Information" tab. [The borrower rate is useful as previously you could not find this out without already being invested which gave you access to a PDF 'agreement' sheet] The Borrower rate was only present for one of the first 5 loans I checked. Some of the arrangement fees seem to be very large. I'm guessing that they might be a percentage of the total loan rather than the amount being drawn in that tranche. Ddefinitely needs some explanation, as otherwise fairly useless. Was added last week, i guess at the growing transparency demands via FSA.
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rscal
Posts: 914
Likes: 503
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Post by rscal on Aug 17, 2023 10:44:13 GMT
Slightly related to re-terming is where there are development tranches (e.g. H##### Rd UB## Tr 9,10,11) subsequent to a re-term :
It appears these raise finance at the originally agreed rate (and the borrower [rate] information suggests that also)
This looks like an oversight on the part of Kuflink - or it may be technical since an agreement and the variation to historic borrowing might need be treated differently where (e.g.) the borrower might decline to accept more tranche money at higher rates and may be entitled to do so.
(Anyway, what do others think I wonder?)
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