scooter
Member of DD Central
Posts: 363
Likes: 346
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Post by scooter on Feb 23, 2024 21:49:26 GMT
Email sent to Kuflink
Tue, 6 Feb, 22:02
Please can you tell me if any further tranches have been paid out since Tranche 10. If so please make them available for me to view asap.
I trust that you have made sure the refinance will be completed this month and the loan repaid.
Email response from Kuflink
9 Feb 2024
The latest tranche for Loughborough Road NG2 was tranche 10. All tranches are viewable via the Select/IF-ISA page under the “LIVE” section. You can use the search bar to locate the loan tranches.
I have spoken with loan management and this loan is still on track, with no further updates to report. If investors do need to be informed of anything we will be sure to let you know as soon as possible.
Kuflink Loan Update
Feb 23, 2024 16:16:48
Our borrower has confirmed that the loan will not redeem on the 27/02/2024. We have been informed and have seen evidence that the redemption will take place before or on 20/03/2024. We will provide update no later than 27/03/2024 if the loan remains outstanding.
And now that there has been an update, investors can actually see reference to the Tranches issued only on Auto lend the last Tranche being Tranche 11 not 10.
I suspect there is one member of staff firefighting for all she is worth and the rest are jobs worth's and management who don't think Investors have sufficient merit to receive an accurate response.
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jnm21
Posts: 441 
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Post by jnm21 on Feb 24, 2024 6:41:07 GMT
To me, to you, to me, to you?
Another fine mess!
Anyone else think this would be comedy gold, were it not people's hard earned money at stake? 😔
Best of luck everyone & well done scooter for trying to keep them honest/highlighting the issues here.
Can you imagine if they get on like this with corporate partners?
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Post by overthehill on Feb 24, 2024 10:14:25 GMT
To me, to you, to me, to you? Another fine mess! Anyone else think this would be comedy gold, were it not people's hard earned money at stake? 😔 Best of luck everyone & well done scooter for trying to keep them honest/highlighting the issues here. Can you imagine if they get on like this with corporate partners?
Although I'm in some of these KUF loans I've not spent any time reading their updates or the forum posts so I'm not going to bash them just now. My instinct is they are an honest company but you reap what you sow when it comes to borrowers - as I believe Crowdproperty will find out to their detriment, not like the signs aren't there.
I restricted my max on KUF to £200 per loan some time ago.
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jnm21
Posts: 441
Likes: 166
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Post by jnm21 on Feb 25, 2024 3:29:39 GMT
You may be right over the hill, but my instinct is that they would have had to have changed. I find it hard to trust a company who tries to sell a blatant deterioration in their offer (20% skin > 5% skin) as a positive. I have read all the comments and while I have not fact checked them, based on good faith & confidence in the audience here to challenge any factual inaccuracies (indeed to do so promptly & more proficiently than many P2P platforms), if one believes that the communications being called out are all made in good faith, one could be forgiven for wondering if the competency level is what a company with a responsibility for others money should be aiming for.
Is £200 at/above the new minimum?
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scooter
Member of DD Central
Posts: 363
Likes: 346
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Post by scooter on Feb 25, 2024 9:06:14 GMT
Hi, i don't know if they are dishonest or incompetent. I only set out to get the information behind the "refinance taking longer than expected" comment.
I was worried enough to sell everything I could. No one from Kuflink management has tried to put my mind at rest with any answers.
In the interest of full disclosure to other investors, I have sent everything to the FCA and Kuflink are aware of that.
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rocky1
Member of DD Central
Posts: 1,121
Likes: 1,940
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Post by rocky1 on Feb 25, 2024 9:39:55 GMT
refinance taking longer than expected is just the fintech term for what all of us LY.MT,FS,COLL etc lenders used to call kicking the can down the road whilst default interest and costs build up at no loss to the platform.
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Post by overthehill on Feb 25, 2024 12:00:04 GMT
You may be right over the hill, but my instinct is that they would have had to have changed. I find it hard to trust a company who tries to sell a blatant deterioration in their offer (20% skin > 5% skin) as a positive. I have read all the comments and while I have not fact checked them, based on good faith & confidence in the audience here to challenge any factual inaccuracies (indeed to do so promptly & more proficiently than many P2P platforms), if one believes that the communications being called out are all made in good faith, one could be forgiven for wondering if the competency level is what a company with a responsibility for others money should be aiming for. Is £200 at/above the new minimum?
Some personal research is overdue, my portfolio has been reducing recently so motivation has been low. Their non-flexible ISA doesn't exactly help their cause as I've stated before but the 24/25 ISA changes will ameliorate the situation a bit although you'll still lose ISA status on any withdrawn funds.
I haven't bought much recently but does the £500 min. also apply to the ISA account ?
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Post by Ace on Feb 25, 2024 12:08:30 GMT
You may be right over the hill, but my instinct is that they would have had to have changed. I find it hard to trust a company who tries to sell a blatant deterioration in their offer (20% skin > 5% skin) as a positive. I have read all the comments and while I have not fact checked them, based on good faith & confidence in the audience here to challenge any factual inaccuracies (indeed to do so promptly & more proficiently than many P2P platforms), if one believes that the communications being called out are all made in good faith, one could be forgiven for wondering if the competency level is what a company with a responsibility for others money should be aiming for. Is £200 at/above the new minimum?
Some personal research is overdue, my portfolio has been reducing recently so motivation has been low. Their non-flexible ISA doesn't exactly help their cause as I've stated before but the 24/25 ISA changes will ameliorate the situation a bit although you'll still lose ISA status on any withdrawn funds.
I haven't bought much recently but does the £500 min. also apply to the ISA account ?
The £500 minimum does not apply to investments from the "ISA Previous" wallet.
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Post by overthehill on Feb 25, 2024 12:21:20 GMT
Some personal research is overdue, my portfolio has been reducing recently so motivation has been low. Their non-flexible ISA doesn't exactly help their cause as I've stated before but the 24/25 ISA changes will ameliorate the situation a bit although you'll still lose ISA status on any withdrawn funds.
I haven't bought much recently but does the £500 min. also apply to the ISA account ?
The £500 minimum does not apply to investments from the "ISA Previous" wallet.
It's all getting a bit messy, that means I have transfer in from another ISA account to say below £500.
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Post by Ace on Feb 25, 2024 12:25:40 GMT
The £500 minimum does not apply to investments from the "ISA Previous" wallet.
It's all getting a bit messy, that means I have transfer in from another ISA account to say below £500.
Not necessarily. Any new ISA funds deposited before April 5th would become "ISA Previous" funds on April 6th.
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Post by overthehill on Feb 25, 2024 14:04:02 GMT
It's all getting a bit messy, that means I have transfer in from another ISA account to say below £500.
Not necessarily. Any new ISA funds deposited before April 5th would become "ISA Previous" funds on April 6th. True. But not if you have already put funds in another P2P or used your 20k allowance.
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