Kuflink P2P - changing Ts & Cs

cfw1994

Anyone else here receive their new terms & conditions?

Key points include them NOT using their own capital to cover any losses, & also something about them not taking on the first 5% of loans 🧐

Sounded to me like nothing positive for an investor, & as a consequence, we will be withdrawing our funds (not a significant sum, it has to be said!). 

Indeed, it read as a business that might be struggling, making such bold and disadvantageous (to customers) changes 😔

A shame really - they have been very solid for quite some time - no investor losses, AFAIK - & having cashed in the NS&I bonds after their feeble new offer, I had actually considered putting more into them.

Hey ho 🤷‍♂️

masonic

Plenty of discussion of this here: https://p2pindependentforum.com/thread/21248/kuflinks-shared-risk?page=2 (scroll a few posts down).

cfw1994

Blimey - 7 pages of it there!
I had searched here - am not on that forum.
Quick skim suggests most (well, most of the first few I’ve read) agree that it is time to bail on them.   Unless you want to summarise it otherwise?

Things move on, eh.

dantep

I've been getting concerned over the past month or so, as select loans sit there for week after week, funded but not going live. No new deals have been offered for a while, and the Auto Invest has no availability.

None of this seems to auger well, so the new T&Cs are the last nail in the coffin for me. Unfortunately I'm fairly new on the platform, so I can't bail any time soon, but I've just unreserved the last of my selects and I won't be adding any more.