rocky1
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Post by rocky1 on Oct 27, 2023 13:14:42 GMT
no 5% stake in any of the tranches from kuflink bridging either.looks like this one could be pulled as no where near for drawdown next week.
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Post by uksoul on Oct 27, 2023 16:43:13 GMT
no 5% stake in any of the tranches from kuflink bridging either.looks like this one could be pulled as no where near for drawdown next week. U r spot on, it has been pulled..
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Post by Ace on Oct 27, 2023 17:06:09 GMT
no 5% stake in any of the tranches from kuflink bridging either.looks like this one could be pulled as no where near for drawdown next week. U r spot on, it has been pulled.. Not quite. It's now fully funded and live with reserve cashback paid.
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Post by uksoul on Oct 27, 2023 17:15:14 GMT
U r spot on, it has been pulled.. Not quite. It's now fully funded and live with reserve cashback paid. Oh It was being updated when it was removed then..Funded via institutional investment for sure
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rocky1
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Post by rocky1 on Nov 4, 2023 9:15:35 GMT
tier 2 back now looking to pass back to lenders and filling quite quickly. i dont know what makes it any more attractive than the first time round.
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Post by Ace on Nov 4, 2023 19:55:16 GMT
tier 2 back now looking to pass back to lenders and filling quite quickly. i dont know what makes it any more attractive than the first time round. Yes, it's not possible for us to know the reason. But, that one and 4 other live loans had large chunks suddenly available. It could be that they were moved from the autoinvest pool to give manual lenders somewhere to invest their monthly interest, but that seems unlikely as the autoinvest pool currently has no availability. I suppose it could also be that a large lender wants to release some funds and was allowed to put them back on the Primary Market. Such large chunks would have been very unlikely to sell on the SM since they would have to be sold as single chunks on there. I guess that the reason doesn't really matter. It's of benefit to manual lenders to have the choice of 5 loans (4 now) to invest in. It seems that Kuflink are struggling to maintain the size of their live loanbook. Despite saying that they had ambitious plans for growth, the net amount of loans outstanding is back down to where it was at this time last year.
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rocky1
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Post by rocky1 on Nov 5, 2023 7:38:03 GMT
bringing poor quality loans to the platform hoping lenders will fill them is not in the best interests of lenders.platform/borrowers gain straight away.crystal ball this one on maturity. the other 3 tranches were nowhere near fully funded and kuflink just released the amount they had raised to get the loan activated.i guess borrower fees are taken at the start and are included in the loan amounts so not costing the borrower anything.
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Post by Ace on Nov 5, 2023 9:31:19 GMT
bringing poor quality loans to the platform hoping lenders will fill them is not in the best interests of lenders.platform/borrowers gain straight away.crystal ball this one on maturity. the other 3 tranches were nowhere near fully funded and kuflink just released the amount they had raised to get the loan activated.i guess borrower fees are taken at the start and are included in the loan amounts so not costing the borrower anything. There aren't multiple tranches on this loan. There was a single tranche raised in 4 different risk/rate tiers. The whole loan was fully funded, mostly by the auto product which currently has no availability for investors. The whole £2.3m will presumably have been given to the borrower on the day the loan went live.
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rocky1
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Post by rocky1 on Nov 5, 2023 11:13:59 GMT
click on the latest offering of this loan and scroll to the bottom to see the other 3 tiers and how much was funded for each one.no where near 2.3m so these will be be returning soon as new opportunities.
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Post by Ace on Nov 5, 2023 11:31:03 GMT
click on the latest offering of this loan and scroll to the bottom to see the other 3 tiers and how much was funded for each one.no where near 2.3m so these will be be returning soon as new opportunities. Those only show the amounts funded by the manual Select accounts. The rest was funded by the autoinvest accounts. The totals do add up to the £2.3m loan.
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rocky1
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Post by rocky1 on Nov 5, 2023 11:39:18 GMT
ok,i see now, and stand corrected. i still dont like the look of this loan so will just see how it goes when the time comes.
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rocky1
Member of DD Central
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Post by rocky1 on Dec 29, 2023 12:19:19 GMT
any thoughts on this latest 5 tier loan due to start 4th jan.RICS valuation £5million. borrower paid £ 2.4 million 12 months ago.£40+k in arrangement fees +few k in admin fees.which i suppose comes out of loan monies if goes live.no 5% from kuflink bridging in any tier and barely moving on any of the tiers.will this loan be squirreled off into auto invest.surely the security has not doubled in value in 12 months.it is only worth what some one is willing to pay.and throws the really low LTVs out of the window. making tier 5 over 86%ltv at last years sale price.
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rscal
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Post by rscal on Dec 29, 2023 12:41:20 GMT
any thoughts on this latest 5 tier loan due to start 4th jan.RICS valuation £5million. borrower paid £ 2.4 million 12 months ago.£40+k in arrangement fees +few k in admin fees. which i suppose comes out of loan monies if goes live.no 5% from kuflink bridging in any tier and barely moving on any of the tiers. will this loan be squirreled off into auto invest. surely the security has not doubled in value in 12 months.it is only worth what some one is willing to pay.and throws the really low LTVs out of the window. making tier 5 over 86%ltv at last years sale price. I invested in 'tier 3'. (Hey, don't look at me, at least it's an actual building!)
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iRobot
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Post by iRobot on Dec 29, 2023 13:15:26 GMT
RICS valuation £5million. ... translates to: RICS valuation: ' what would you like it to be?' ... not bought yet. The valuation states: " The property was to be offered at Acuitus Auction on 2nd November 2023, however, we understand that your client agreed to purchase the building prior to the auction date for £2,400,000." Begs the question as to why the vendor would agree a price at below 50% of the current On Market Value. (Well, according to one RICS valuation, anyway). OK, it does say something about the property no longer being a fit with a property fund's portfolio criteria but would that be sufficient to 'encourage' them to sell at a 50% discount?? This bit from the valuation is enlightening (and may partially explain the above questions): Local Market Trends
Tenant demand: Decreasing
Purchaser demand: Decreasing
Supply: Stable
Pricing: Decreasing
I may have missed it, but I couldn't see how it was intended that the loan be repaid. (Have I missed something?) Even if looking for somewhere to invest funds at c. 9% return, this one has too many red flags for me...
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rocky1
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Post by rocky1 on Jan 11, 2024 18:16:24 GMT
wow tiers 2and 3 thrown into auto invest the rest FUNDING NOW this is where the borrower has received funds.where did the rest of these funds come from? and does this make this loan any more attractive now that the borrower has the dough. very quick to lend other peoples money out. not so quick when it comes to returning it.
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