Kufflink P2P lending chat thread

Nardge

Just to confirm that LTM1988 was true to his word and forwarded my share of his bonus as per the old Kuflink thread. Excellent communication throughout too

Alexland

Kuflink have just increased their generosity for this weekend.

For each referral, you’ll now receive:

£250 cashback for £5000+
£100 cashback for £1000 - £4999.99 investments
£50 cashback for £500 - £999.99 investments

You can now receive up to 7% interest per annum on both our Auto-Invest & IF-ISA accounts as part of our weekend rate boost.

1 Year Fixed Term @ 5% pa
3 Year Fixed Term @ 6.1% pa
5 Year Fixed Term @ 7% pa

masonic

Worth pointing out that you can also invest in self-select loans at 6-7.2% with shorter terms than the above.

bxboards

I can't really see the point in Kuflink self-select as the deal flow is good enough that you can diversify easily enough, might as well get 6.2% to 7.2% doing it yourself and not such a long lock in in most cases.

I'm in auto-invest but only as at the time there was 3% cashback so it worked out at 6.99% for the 1 year, otherwise I used self-select. No defaults, I think their DD is generally good.

I suspect Kuflink use the auto-accounts to effectively underwrite some loans to ensure they are funded, which is fine, but I can't any sense in doing a 3 year lock in for 7% when you can just self-select at that rate and have a much earlier exit.

Alexland

bxboards wrote: »

I suspect Kuflink use the auto-accounts to effectively underwrite some loans to ensure they are funded, which is fine, but I can't any sense in doing a 3 year lock in for 7% when you can just self-select at that rate and have a much earlier exit.

I agree the backing data on exactly how your auto invest is invested isn't particularly clear and I have given up trying to track it. I guess they figure that they wouldn't let any customer in that product suffer a loss so it probably doesn't matter anyway so they can use the money how they please to cover their loan obligations.

I will still be closing our accounts after the 12 months is up.

Alex

masonic

bxboards wrote: »

I can't really see the point in Kuflink self-select as the deal flow is good enough that you can diversify easily enough, might as well get 6.2% to 7.2% doing it yourself and not such a long lock in in most cases.

Did you really mean you can't see the point in self-select, or did you mean auto-invest? The rest of the sentence seems to support the latter.

bxboards

Alexland wrote: »

I will still be closing our accounts after the 12 months is up.

Alex

I'll keep mine open as I invest a lot in P2P and I like to spread my money around multiple sites, Kuflink are only 1 of the 10+ sites I use.

I think their referral scheme may only have acquired short term customers, who will exit when they can - and I can't blame them for that, as they'll come out way ahead, either 20%+ or even 50%+ up depending when they opened accounts.

Alexland

Jerryspb1 wrote: »

Kuflink has a new "Refer A Friend" offer.

Yes I mentioned this in my recent post on this thread but had the decency not to spam a link.
https://forums.moneysavingexpert.com/discussion/5846991/kufflink-p2p-lending-chat-thread&page=5#96

If you want to post referral links there is a dedicated forum.
https://forums.moneysavingexpert.com/forumdisplay.php?f=42

Alex

Jerryspb1

Hi Alex,

I take your general point though happen to disagree with your description of it as spam. That aside, i'm new to the forum (as you can see from my profile), and so shall learn from this experience.

To clarify, I thought it was a decent enough proposition from Kuflink for folk to consider and (obviously) also introduced an incentive to hopefully make it of further interest to additionally benefit other MSE forum readers (and myself) - while also taking care to highlight the risk warning and make an assumption that MSE forum readers (almost by definition) will evaluate options to their best advantage, whether it's my message, someone else's link or doing their own thing.

I hope that clarifies my intentions and clears the air.

I'm sure there are enough links and propositions for folk to find something that works for them while recognising the principle of choice through this and other threads.

As I say, I'll learn from your feedback and this experience. I wish MSE members every financial success going forwards, and am grateful to everyone for their patience as I learn how to operate more effectively within this forum.

Kind regards,
Jerry

Jerryspb1

*MSE Administrators - please feel free to delete my posting if it contravenes the rules for posting. Sorry, am new to this and will look at how to make the same information available via the link that Alex kindly provided. Sorry folks.