Kufflink P2P lending chat thread

BeerMoney

bxboards wrote: »

Beermoney's Assetz thread went again as did my new Kuflink thread.

But it can't be anything to do with splitting referrals.

No one has said why, the threads just vanish.

Yes, very odd, I removed all references to splitting referrals. No explanation, just removed the post

busybee100

Hi Can anyone confirm the referer and referee bonus has gone down to £50 each. I've found links from people suggesting it's still £100 for the referee but when I click through there's no amount mentioned.

keyboardworrier

busybee100 wrote: »

Hi Can anyone confirm the referer and referee bonus has gone down to £50 each. I've found links from people suggesting it's still £100 for the referee but when I click through there's no amount mentioned.

That is correct! The first bonus offered was very attractive, it's a shame they have reduced it.


I have heard they have implemented a new facial recognition ID system now which could potentially put a lot of people off. I wouldn't have bothered if it was in place when I registered with them.

bxboards

keyboardworrier wrote: »

I have heard they have implemented a new facial recognition ID system now which could potentially put a lot of people off. I wouldn't have bothered if it was in place when I registered with them.

I hope they don't try to do that retrospectively, I've got a fair bit to repay with them this year, and have no intention in engaging in anything like that. I will need to rehome my money.

Like you, I would not have bothered if it was in place back then.

masonic

bxboards wrote: »

I hope they don't try to do that retrospectively, I've got a fair bit to repay with them this year, and have no intention in engaging in anything like that. I will need to rehome my money.

Like you, I would not have bothered if it was in place back then.

No doubt if they decide it is necessary of older accounts it will be a prerequisite of withdrawing funds. Otherwise it would be clear that it isn't really necessary. Let's hope our existing electronic verification is deemed sufficient.

fatherandson

What's the general feeling about Kuflink from existing investors? Would you do it again? Have you received the interest you were expecting? How does it compare to other P2P providers that you've been involved with?

I am/was about to invest with them, but the later part of this thread is making me nervous. The dropping of cashback to £50 still represents a 10% gain on £500, but I'm wondering whether it is really worth it.

Trentenders

They contacted me to offer the same £100 + £100 referral scheme. I'm guessing that I won't be the only one they contacted to extend the original offer.

bxboards

Trentenders wrote: »

They contacted me to offer the same £100 + £100 referral scheme. I'm guessing that I won't be the only one they contacted to extend the original offer.

I started the original thread before a lot of the P2P referral threads got zapped and I never got this. Never heard anything from them at all apart from new loan opportunities which I guess everyone got.

keyboardworrier

fatherandson wrote: »

What's the general feeling about Kuflink from existing investors? Would you do it again? Have you received the interest you were expecting? How does it compare to other P2P providers that you've been involved with?

I am/was about to invest with them, but the later part of this thread is making me nervous. The dropping of cashback to £50 still represents a 10% gain on £500, but I'm wondering whether it is really worth it.

I think it's worth it for diversification. They invest 5% (it used to be 20%...) along side us on a first loss basis with a 15% provision fund. I haven't had any defaults so far and interest is always paid on time to the correct amount, they quite frequently have loans with very low LTV's which is a big plus.

masonic

fatherandson wrote: »

What's the general feeling about Kuflink from existing investors? Would you do it again? Have you received the interest you were expecting? How does it compare to other P2P providers that you've been involved with?

I am/was about to invest with them, but the later part of this thread is making me nervous. The dropping of cashback to £50 still represents a 10% gain on £500, but I'm wondering whether it is really worth it.

It's undoubtedly worth it for someone already exposed to P2P who can benefit from cashback. I started out investing £500 (for the cashback) in a single 6 month self select loan that looked very low risk (it repaid in full after 4 months).

Every now and then it has some pretty good loans on offer. I haven't touched 'Auto invest' as I consider that to be of poor value.

Far too early to judge them on defaults and recoveries, but the loans are clearly lower risk than the platforms offering double digit rates so I'd be surprised to see the same substantial losses of capital that have plagued some of those platforms of late.