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Post by keyboardworrier on Nov 20, 2017 15:25:02 GMT
Hi marka , I'm not sure about the "reserve" process, but if you inquire you will find that any loans you actually invest in start earning interest to your account immediately as soon as you invest. The Deal Close date is just the last date you can invest. This is because these loans are already pre-funded by Kuflink's sister company that also takes the first 20% loss investment for the life of the loan. Hopefully Olivia can confirm this. I guess the trick is, simply don't use the new reserve process - I don't think most loans are that popular (except that one 25% LTV one that I missed out on ) Re: withdrawals, I was advised it would take 2-3 days but in fact the one I did took place the same day, so they may just be being overly conservative perhaps? That is what I plan to do, I just hope Kuflink put in bid limits for loans they know will be popular whilst keeping the pipeline visible as I appreciate knowing what is coming next. IIRC the 25% LTV loan was launched right after another loan repaid, which put everyone that wasn't in that loan at a disadvantage as we had to transfer cash across. Also, kuflink Olivia is there any news on a secondary market?
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marka
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Post by marka on Nov 20, 2017 17:21:51 GMT
We recently had the introduction of the "reserve", and I deposited cash on 11/11/17 for a loan that still isn't earning interest, and for which the date keeps slipping - it's currently showing as 24/11/17. Hi marka , I'm not sure about the "reserve" process, but if you inquire you will find that any loans you actually invest in start earning interest to your account immediately as soon as you invest. The Deal Close date is just the last date you can invest. This is because these loans are already pre-funded by Kuflink's sister company that also takes the first 20% loss investment for the life of the loan. Hopefully Olivia can confirm this. Hi metooI'll be very happy if Olivia can confirm this, but if he does it will be contrary to the statement at the bottom of the email announcing new loans : ... and on the loans themselves: I want kuflink to work for me, but with cash drag on the way in and on the way out I will struggle to make it do so if it's going to be common for loans to repay so early. It will take a year for my existing loans to mature, so there's plenty of time for me to be convinced.
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metoo
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Post by metoo on Nov 20, 2017 17:27:21 GMT
marka , those statements you have quoted refer to the Reserve Now system. Once the loan is Live, ie available for live bids, it is earning interest, which is consistent with those quotes. You can check the 'Borrower's loan advance date' in the loan particulars.
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littleoldlady
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Post by littleoldlady on Nov 20, 2017 19:01:15 GMT
AIUI you dont earn interest on funds 'reserved' but this is reasonable as they are not committed and can be withdrawn.
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marka
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Post by marka on Nov 20, 2017 21:09:46 GMT
marka , those statements you have quoted refer to the Reserve Now system. Once the loan is Live, ie available for live bids, it is earning interest, which is consistent with those quotes. You can check the 'Borrower's loan advance date' in the loan particulars. I know that. Thats why I said "We recently had the introduction of the "reserve", and I deposited cash on 11/11/17 for a loan that still isn't earning interest, and for which the date keeps slipping - it's currently showing as 24/11/17." If you look at the separate thread on the reserve function which I started, you'll see that this was supposed to be a way to make sure you get a slice of loan. Hence if you use it for that purpose you have to put the cash into it. The whole system is pointless, as once the loan is announced then people will be putting a reserve on it in exactly the same way as prior to this new addition they would have been investing (but earning immediate interest). This does nothing to help get a slice, but adds to the cash drag - especially as in the case I cited where the live date keeps slipping. Kuflink are perfectly free to operate this way if they so choose, and I am perfectly free to reject it in favour of platforms (such as ABL, MT or COL etc) which pay interest (or "instant returns") from the time my cash is put into the loan.
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littleoldlady
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Post by littleoldlady on Nov 20, 2017 21:21:01 GMT
marka , those statements you have quoted refer to the Reserve Now system. Once the loan is Live, ie available for live bids, it is earning interest, which is consistent with those quotes. You can check the 'Borrower's loan advance date' in the loan particulars. I know that. Thats why I said "We recently had the introduction of the "reserve", and I deposited cash on 11/11/17 for a loan that still isn't earning interest, and for which the date keeps slipping - it's currently showing as 24/11/17." If you look at the separate thread on the reserve function which I started, you'll see that this was supposed to be a way to make sure you get a slice of loan. Hence if you use it for that purpose you have to put the cash into it. The whole system is pointless, as once the loan is announced then people will be putting a reserve on it in exactly the same way as prior to this new addition they would have been investing (but earning immediate interest). This does nothing to help get a slice, but adds to the cash drag - especially as in the case I cited where the live date keeps slipping. Kuflink are perfectly free to operate this way if they so choose, and I am perfectly free to reject it in favour of platforms (such as ABL, MT or COL etc) which pay interest (or "instant returns") from the time my cash is put into the loan. Only if everyone reserves ie nobody is concerned about cash drag. On the other hand if some people prioritise avoiding cash drag then it will help to get a slice. The choice is yours.
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metoo
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Post by metoo on Nov 20, 2017 21:48:08 GMT
marka , those statements you have quoted refer to the Reserve Now system. Once the loan is Live, ie available for live bids, it is earning interest, which is consistent with those quotes. You can check the 'Borrower's loan advance date' in the loan particulars. I know that. Thats why I said "We recently had the introduction of the "reserve", and I deposited cash on 11/11/17 for a loan that still isn't earning interest, and for which the date keeps slipping - it's currently showing as 24/11/17." OK, apologies marka, I couldn't see any loans on the Available Loans tab, so I assumed all Live Loans were actually erm... Live. I assume you're talking about RG10 which, as you say, hasn't been advanced yet even though it's on the Live tab. Oh dear. I agree that if it gets to be that the only way people can invest in loans is by accepting a fortnight of cash drag that isn't good and needs to be thought about again. Not good. Also not particularly useful even if enforced cash drag was acceptable.
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marka
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Post by marka on Nov 21, 2017 5:17:53 GMT
I know that. Thats why I said "We recently had the introduction of the "reserve", and I deposited cash on 11/11/17 for a loan that still isn't earning interest, and for which the date keeps slipping - it's currently showing as 24/11/17." If you look at the separate thread on the reserve function which I started, you'll see that this was supposed to be a way to make sure you get a slice of loan. Hence if you use it for that purpose you have to put the cash into it. The whole system is pointless, as once the loan is announced then people will be putting a reserve on it in exactly the same way as prior to this new addition they would have been investing (but earning immediate interest). This does nothing to help get a slice, but adds to the cash drag - especially as in the case I cited where the live date keeps slipping. Kuflink are perfectly free to operate this way if they so choose, and I am perfectly free to reject it in favour of platforms (such as ABL, MT or COL etc) which pay interest (or "instant returns") from the time my cash is put into the loan. Only if everyone reserves ie nobody is concerned about cash drag. On the other hand if some people prioritise avoiding cash drag then it will help to get a slice. The choice is yours.Not if you wanted a slice of L******** H**** R*1* it isn't, as noted above by metoo .
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p2pmark
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Post by p2pmark on Nov 22, 2017 8:43:45 GMT
kuflink, do you know when there will be a new self-select loan available? I deposited fur the first time over the weekend and just missed the recent couple. Thanks
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Post by Olivia on Nov 22, 2017 10:49:22 GMT
Hi all,
Apologies for the late reply. I have been out of the office on annual leave but am now back and checking the forum regularly again.
Thank you for all your questions and queries. I have read through them all and will try to address all your concerns as best as possible.
We recently introduced the "Reserve" option as a solution for the problem of some of our deals filling up quickly and investors missing out. In practice, we can see that the way our "Reserve" process is structured does not fully resolve this issue and we will be looking into making some changes for future deals. Although we initially planned for the deal in RG10 to go live on 17/11/2017, it has been delayed for reasons outside of our control and we are looking at 24/11/2017 for the deal to go live. You will earn interest immediately on any live deals because all of our deals are pre-funded by Kuflink Bridging. However, with deals available for "Reserve", because these deals are not yet completed, you will only start earning interest once the deal goes live. We do have some more deals in the pipeline and will be adding these to the platform very soon. Our investors will be notified by email when they go live.
In regards to a secondary market, we are still looking at introducing this and I will keep you all updated once something has been confirmed on my end.
Kind regards, Danny
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Post by Olivia on Nov 24, 2017 14:43:01 GMT
Hi all,
After the unexpected delay, the deal in RG10 that was on "Reserve" is now live! Everyone that reserved their investment into this deal will now be earning interest from today's date.
Kind regards, Danny
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Post by Olivia on Nov 24, 2017 16:51:25 GMT
We have also just added a new deal available on Select-Invest which is available for "Reserve". This is due to go live on 1/12/2017 (next Friday) and is offering 6.95% pa gross on a 12 month term!
Kind regards, Danny
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ben
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Post by ben on Nov 24, 2017 18:09:18 GMT
For the IFiSA can you only use the auto invest? I was under the impression you could use manual invest for that to but when investing manually it does not give me the option.
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Post by peerlessperil on Nov 24, 2017 18:20:36 GMT
We have also just added a new deal available on Select-Invest which is available for "Reserve". This is due to go live on 1/12/2017 (next Friday) and is offering 6.95% pa gross on a 12 month term! Kind regards, Danny And it comes with one of the most bizarre valuations I've ever seen for a p2p loan. The valuer pretty much states that the owner should not proceed with adding the extension to the first floor and knocking the two retail units together as: "Our conclusion is that this project is not viable as initiation of the project, would produce a lower residual value than the current Market Value, so in our opinion, there is no rationale in undertaking the capital expenditure referred to in Section 15.8, as this will not increase the value of the properties."
Well we can't complain about the valuer's honesty for once, but I think kuflink should really comment on this in some manner?
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Post by keyboardworrier on Nov 24, 2017 18:21:41 GMT
For the IFiSA can you only use the auto invest? I was under the impression you could use manual invest for that to but when investing manually it does not give me the option. Yes, and Kuflink only take 5% of the first loss...so people who invest in the IFISA or Auto Invest get more risk and less reward! I don't think I will ever work out why Kuflink made that decision, it's quite strange from an investors perspective.
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