Kuflink peer to peer - any views

FabFifty

Considering putting some money into Kuflink (Auto-Invest) and thought I'd do a quick reality check here on MSE. Does anyone have any experience of Kuflink? Views and opinions most welcome please. (I put Kuflink into the search option but couldn't find anything about kuflink on this site)

Voyager2002

Yes, I use them. So far so good.

If you use auto-invest you are likely to receive lower interest rates than if you choose your projects yourself.

They have been discussed in detail on this forum, so try doing a search using Google: the site search function is dreadful.

davidwatts

Voyager2002 wrote: »

They have been discussed in detail on this forum, so try doing a search using Google: the site search function is dreadful.

Though it helps if you spell the name right!*

https://forums.moneysavingexpert.com/discussion/5846991/kufflink-p2p-lending-chat-thread

*In terms of the linked post turning up in searches that is! I wouldn't do business with any firm that wants me to invest with them but adopts the Slade approach to grammar!

DrSyn

A Google search turned up this. Is this the company you are asking about?

https://www.financialthing.com/kuflink-review/

ANDY597

Yes I've used them, if you look at the referral board there was a generous sign up offer not so long ago, hence the reason I decided to give it a go.


They were alright overall, paid out on time at the promised return rate, customer service was timely and friendly, so as peer2peer goes the experience was fine.


As voyager noted, id try to pick the projects yourself to dip the toe in as they sometimes offer 3 and 6 months projects and they offer a better return rate (note the increased risk). Short deals fill up quickly.


Id consider it again as a risky side investment if peer2peer is your thing, but I personally wouldn't through the kitchen sink at it.

Zanderman

As davidwatts posted above there is an existing thread about Kuflink - probably best to continue chat there rather than extending this thread (sorry, doing just that myself with this post). It is at

https://forums.moneysavingexpert.com/discussion/5846991/kufflink-p2p-lending-chat-thread

Probably best to scroll though to later posts to get a feel for how people feel about Kuflink and what their experience has been.

Albermarle

http://p2pindependentforum.com/board/108/kuflink

FabFifty

Thank you for your responses, and for recommending self-invest rather than auto-invest.

I did put "kuflink" into the search function at the top of the page but got no results, so thank you for posting the link.

Not going to invest a huge amount as I understand the risks involved (only ever invest what you could reasonably do without!).

Thank you all.

Alexland

We added £500 each via autoinvest for 12 months to get the new customer referral bonuses. I liked that the bonus cash was added quickly and could be withdrawn so it was effectively less money tied up for 12 months. Mine matured this week and they are now processing the withdrawal and my wife's will mature in a few weeks.

Flobberchops

Likewise, I chucked £500 in Autoinvest for the free money. Have yet to decide what to do when it matures.

Snow_Dog

Kuflink is OK in my opinion, one of the better p2p platforms.


As others have said, autoinvest is a little bit pointless as 3-4% is not worth the added risk over more normal high street options but its an easy option.


Self-select is what I use, I never put more than £100 in any single property, most often £50, when they mature it is then usually £52-£54 maturing, so then reinvesting that amount into another property.


I avoid the ones I dont like, you read through the valuation report with a sceptical eye. Things to look out for, I spotted one (might not have been kuflink, i cant remember) but buried about page 50 there was an explanation as to why they were valuing the property about 10% down on comparison properties, turns out there is a traveller site next door. So I passed on that one. I think there is another live one that I didnt like the look of as I think the developer is trying to squeeze too much into the space.


Interest is paid up 1st of the month in a timely manner.


If you are just starting out in p2p I would suggest diversifying over several platforms in order to minimise risk (of platform failure).


My personal rules are:-


Spread across several platforms (reduces exposure to platform failure)


Set a personal max per loan (mine is £100 per loan, even the ones that sound sweet, I have several on Assetz that I would like to break that limit on but I dont).


Due diligence - read the valuation and credit reports thoroughly, spot one single thing that you dont like and move on.


Limit total p2p money to a self imposed % of available capital. Mine is no more than 5% of cash available.



I see it as just another option in a portfolio of places to stick money. Returns to date are 5-7.5% + intro bonuses.