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Peer-to-peer lending sites: MSE guide discussion
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I have dipped in and out of P2P over the last few years to make use of bad debt relief, of which I have accumulated a substantial amount from the likes of Ablrate, MoneyThing, Assetz Capital and FundingSecure. Kuflink is one of a handful of platforms I have used for this purpose, and I have been broadly happy with the way they have handled bad debt to date. I've not been tempted to generate interest beyond that which I could obtain tax free through the relief, although as it turns out, extensions to loan terms and penalty interest have pushed my income over that limit.I will re-evaluate the situation when base rate finally starts to fall, as that is probably a time when the risk/reward will be at its best.
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longleggedhair said:I was in Zopa & Ratesetter pretty much from day one. They performed reasonably well but sadly both closed their P2P side and I had a full capital return. Currently with Loanpad (my only P2P) and they are very good. The portfolio seems well managed and they run a good show. However I only have about £6000 as I’m slightly nervous to put any real money in as the additional interest isn’t sufficient to cover the risk IMO.
I recall Zopa offered me a cashback incentive for taking out a personal loan that I didn't need so repaid asap for a net profit so at one point I was both a borrower and lender.
I wouldn't really want more than a few thousand in P2P. I must have that within individual companies as part of my S&S funds but the difference is a P2P loss would be more directly visible than a company going belly up inside a much bigger S&S fund.
The thing that attracts me to the Kuflink autoinvest again is that you don't get involved in the weeds of selecting properties or into delayed repayment situations from extending loan terms. They just make your money available to you again at the end of the fixed term.
They seem well capitalised to cover deals going wrong and an important part of their business sales pitch is that no investor has ever suffered a loss which I am sure they would be happy to invest to protect. For what they do in bridging and development loans they seem to have been consistent and competent for a decade. Looking at them again 5-6 years later it's impressive about how little has needed to change in their business model.masonic said:I will re-evaluate the situation when base rate finally starts to fall, as that is probably a time when the risk/reward will be at its best.1 -
Alexland said:It's been 5 years since I was last in P2P and it's interesting to see the survivors.
I'm tempted to chuck a grand in a Kuflink auto invest ISA at 10.25%.
I had a good experience with them last time and their companies house filings look in good order. I like that the directors have been reinvesting the growing business profits back into the business capital for if any loans go bad.
No cashback this time but worth a punt?
I have a couple of grand with them, no issues so far (although one investment is being ‘called in’….no punters like us impacted so far, they do seem to know what they are doing).Plan for tomorrow, enjoy today!1 -
cfw1994 said:No idea what a grand of your money is in comparison with your overall wealth/investments, but I have been very impressed with Kuflink to date.cfw1994 said:I have a couple of grand with them, no issues so far (although one investment is being ‘called in’….no punters like us impacted so far, they do seem to know what they are doing).
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I’m fairly confident they will recover all the funds they need for investors, & they are continuing to pay me the interest.
Since we dabbled, they have always shown the stats: numbers today:I like that last box most!Every now & then, I berate myself for not investing more with them…maybe this year!Plan for tomorrow, enjoy today!1 -
masonic said:I have dipped in and out of P2P over the last few years to make use of bad debt relief, of which I have accumulated a substantial amount from the likes of Ablrate, MoneyThing, Assetz Capital and FundingSecure. Kuflink is one of a handful of platforms I have used for this purpose, and I have been broadly happy with the way they have handled bad debt to date. I've not been tempted to generate interest beyond that which I could obtain tax free through the relief, although as it turns out, extensions to loan terms and penalty interest have pushed my income over that limit.I will re-evaluate the situation when base rate finally starts to fall, as that is probably a time when the risk/reward will be at its best.Aim to retire by 45.0
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thenewcomer said:masonic said:I have dipped in and out of P2P over the last few years to make use of bad debt relief, of which I have accumulated a substantial amount from the likes of Ablrate, MoneyThing, Assetz Capital and FundingSecure. Kuflink is one of a handful of platforms I have used for this purpose, and I have been broadly happy with the way they have handled bad debt to date. I've not been tempted to generate interest beyond that which I could obtain tax free through the relief, although as it turns out, extensions to loan terms and penalty interest have pushed my income over that limit.I will re-evaluate the situation when base rate finally starts to fall, as that is probably a time when the risk/reward will be at its best.
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masonic said:thenewcomer said:masonic said:I have dipped in and out of P2P over the last few years to make use of bad debt relief, of which I have accumulated a substantial amount from the likes of Ablrate, MoneyThing, Assetz Capital and FundingSecure. Kuflink is one of a handful of platforms I have used for this purpose, and I have been broadly happy with the way they have handled bad debt to date. I've not been tempted to generate interest beyond that which I could obtain tax free through the relief, although as it turns out, extensions to loan terms and penalty interest have pushed my income over that limit.I will re-evaluate the situation when base rate finally starts to fall, as that is probably a time when the risk/reward will be at its best.0
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allegro120 said:masonic said:thenewcomer said:masonic said:I have dipped in and out of P2P over the last few years to make use of bad debt relief, of which I have accumulated a substantial amount from the likes of Ablrate, MoneyThing, Assetz Capital and FundingSecure. Kuflink is one of a handful of platforms I have used for this purpose, and I have been broadly happy with the way they have handled bad debt to date. I've not been tempted to generate interest beyond that which I could obtain tax free through the relief, although as it turns out, extensions to loan terms and penalty interest have pushed my income over that limit.I will re-evaluate the situation when base rate finally starts to fall, as that is probably a time when the risk/reward will be at its best.
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masonic said:allegro120 said:masonic said:thenewcomer said:masonic said:I have dipped in and out of P2P over the last few years to make use of bad debt relief, of which I have accumulated a substantial amount from the likes of Ablrate, MoneyThing, Assetz Capital and FundingSecure. Kuflink is one of a handful of platforms I have used for this purpose, and I have been broadly happy with the way they have handled bad debt to date. I've not been tempted to generate interest beyond that which I could obtain tax free through the relief, although as it turns out, extensions to loan terms and penalty interest have pushed my income over that limit.I will re-evaluate the situation when base rate finally starts to fall, as that is probably a time when the risk/reward will be at its best.0
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