bugs4me
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Post by bugs4me on Feb 23, 2018 15:16:51 GMT
Hi all, We are running a promotional offer on any new investments made into ‘Warwick Crescent – ME1 – Loan Part 1’ between today 23/02/2018 and 23:59pm on 26/02/2018. We are offering an additional 1% cashback on top of your interest which is payable into your online wallet on 12th March 2018. If you have any questions at all about this limited time offer, please do let me know. Please bear in mind that you cannot use this offer in conjunction with any other cashback offer. Terms and conditions apply, please log onto the platform for more information. Kind regards, Danny Promotions always welcome Olivia but as a new investor at Kufflink this offer is effectively 'penalising' those that have already invested - including myself. I'm not aware of other P2P platforms restricting their offers/promotions/etc in the same way. Next time I'll wait until close to the end date.
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stevio
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Post by stevio on Feb 23, 2018 15:23:25 GMT
Hi all, We are running a promotional offer on any new investments made into ‘Warwick Crescent – ME1 – Loan Part 1’ between today 23/02/2018 and 23:59pm on 26/02/2018. We are offering an additional 1% cashback on top of your interest which is payable into your online wallet on 12th March 2018. If you have any questions at all about this limited time offer, please do let me know. Please bear in mind that you cannot use this offer in conjunction with any other cashback offer. Terms and conditions apply, please log onto the platform for more information. Kind regards, Danny Without a secondary market, I wouldn't increase my investment as there is no potential early exit
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Steerpike
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Post by Steerpike on Feb 23, 2018 15:33:14 GMT
1% cashback on a 16 month 7% loan makes an effective rate of about 7.8%, not bad considering Kuflink are also in the loan, although I am not sure if "up to 20% of each tranche" actually means much, weren't broadband providers banned from making this sort of claim?
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madpierre
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Post by madpierre on Feb 23, 2018 16:13:19 GMT
Olivia I think you are shooting yourself in the foot and potentially stirring up resentment with this ill-considered offer. As bugs4me suggests, now that investors know cashback is possible if a loan struggles, they may hold off in future thus causing a loan to struggle! I would invest more in this loan but not unless the cashback is also applicable to my existing investment
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shimself
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Post by shimself on Feb 23, 2018 19:37:12 GMT
1% cashback on a 16 month 7% loan makes an effective rate of about 7.8%, not bad considering Kuflink are also in the loan, although I am not sure if "up to 20% of each tranche" actually means much, weren't broadband providers banned from making this sort of claim? No they say specifically what their stake is in each loan, and the select invest ones that I have seen have I think all been 20% (which brings a 70% LTV loan down to 56%). The up to is to do with the auto-invest loans which run at 5% Having said which it seems to me the valuation as the site stands is 950K (90 day 850K), so I don't follow the 814K loan amount being 70%. Olivia
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Steerpike
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Post by Steerpike on Feb 23, 2018 19:41:55 GMT
1% cashback on a 16 month 7% loan makes an effective rate of about 7.8%, not bad considering Kuflink are also in the loan, although I am not sure if "up to 20% of each tranche" actually means much, weren't broadband providers banned from making this sort of claim? No they say specifically what their stake is in each loan, and the select invest ones that I have seen have I think all been 20% (which brings a 70% LTV loan down to 56%). The up to is to do with the auto-invest loans which run at 5% Having said which it seems to me the valuation as the site stands is 950K (90 day 850K), so I don't follow the 814K loan amount being 70%. Olivia Actually, yes, I was quoting from the lending case for this W*****k Crescent cashback loan: "Kuflink Bridging will retain up to 20% of each tranche which provides you with an additional layer of investor security." "The LTGDV will not exceed 70% throughout the term." £814k is 16% of £5.075m so plenty of headroom there, but £814k is 96% of 90day MV so banging head on ceiling here...
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Post by Olivia on Feb 26, 2018 9:45:02 GMT
Hi all, Thanks for your feedback regarding this promotional offer. I have passed this on to our directors and we will will consider this when offering a similar promotion in the future. Being a development loan, we have offered funds based on the GDV as opposed to the Market Value provided on the valuation report. Hence why, as pointed out by Steerpike, we have included in the lending case that "the LTGDV will not exceed 70% throughout the term". Kind regards, Danny
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kaya
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Post by kaya on Mar 5, 2018 20:36:41 GMT
A secondary market would be nice. Any plans in that direction?
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Post by Olivia on Mar 6, 2018 11:46:03 GMT
Hi Kaya,
This is not something that we are currently offering however it will be a direction we would like to take in the future. So far there have been no plans to do so but it is on our radar.
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nyneil
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Post by nyneil on Mar 12, 2018 18:51:01 GMT
Hi Kaya, This is not something that we are currently offering however it will be a direction we would like to take in the future. So far there have been no plans to do so but it is on our radar. If you do implement secondary market, which i think would be well received, i hope you limit the premium / discount or just exchange at par. Discounts are understandable as people will form time to time need to re-balance their portfolios, access cash or manage tax, but heavy premiums are IMO just taking advantage of investors who were not able to catch a portion of the initial offering.
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kaya
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Post by kaya on Mar 12, 2018 20:29:41 GMT
''Par'' seems to be par for the course for these 'types' of platforms eg. relendex, proplend.
Personally I'll be making no new investments here unless/until I can diversify out of some existing investments.
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shimself
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Post by shimself on Mar 14, 2018 14:11:20 GMT
Hi Kaya, This is not something that we are currently offering however it will be a direction we would like to take in the future. So far there have been no plans to do so but it is on our radar. If you do implement secondary market, which i think would be well received, i hope you limit the premium / discount or just exchange at par. Discounts are understandable as people will form time to time need to re-balance their portfolios, access cash or manage tax, but heavy premiums are IMO just taking advantage of investors who were not able to catch a portion of the initial offering. I don't mind this, I've certainly picked up some loans at a premium on FS, because, well, a decent loan at 11% is nearly as good as a decent loan at 12%.
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stevio
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Post by stevio on Mar 20, 2018 14:56:02 GMT
kuflinkAre there any new loans due soon? there are only 2 big development loans left and neither takes my fancy
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jcb208
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Post by jcb208 on Mar 20, 2018 16:03:09 GMT
'Broadway - DA6' has been added
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jcb208
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Post by jcb208 on Mar 20, 2018 16:07:29 GMT
How long on average does it take to get a reply from Kuflink ,submitted a ticket Friday still no reply so I shall ask here.Has any one had the cashback from the last promotion yet my ISA transfer has been invested for 19 days and no cashback yet
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