Kuflink Adds a Secondary Market

Last week Kuflink added a secondary market to their platform, allowing investors to buy and sell existing loans. Giving more details on how it works, Kuflink said:

Lenders can list most loan parts on the market, although some restrictions apply – loans in default or less than a month from their redemption date are not eligible, for example. Loan parts must be sold for par value.

The platform will charge a nominal 0.25% administration fee to the seller, whereas the market is free to use for buyers.

From the Kuflink Press Release

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Collateral Administration Update

I wrote a post back at the start of March shortly after I heard that the UK P2P lender Collateral went into administration. As an investor in some Collateral loans it took me by surprise, and at that time I was hopeful of a recovery of the capital invested. This post is to look at some of the developments which have progressed since then. Read more “Collateral Administration Update” →

Where do you go when the bank says no?

The following article is a guest post from Yann Murciano, CEO of Blend Network.

Since November 2016, as part of the Small Business Enterprise and Employment Act 2015, the UK’s nine major banks are legally required to refer those SMEs they refuse to finance to an alternative provider. The last figures published in August 2017 for the first nine months of the scheme were quite unimpressive: less than 3% of small businesses referred to alternative lenders via the bank referral scheme ^[1] were funded, that is some £4m in completed funding deals for the first nine months of the scheme. However, despite a sluggish start, we are now seeing an increase in conversion rates. Recent months have showed a significant pick-up in referrals, partly due to promotion of the scheme by the banks themselves. Of course, full effectiveness of the scheme will take time to achieve but if recent trends are something to go by, the trend looks encouraging. Read more “Where do you go when the bank says no?” →

New Offer: £100-£250 Cashback with Kuflink

P2P lender Kuflink are offering £100 cashback for a minimum £500 investment on the platform. Although originally this offer was available quite widely, as of October 2018 Kuflink had reduced it to £50. Kuflink have confirmed to me that they will continue to offer the original £100 to those who sign up via the link below. They have also added a £250 cashback for those investing over £5000, with the same link.

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Collateral Goes Into Adminstration

The pawn-come-property secured lender Collateral has gone into administration. Read more “Collateral Goes Into Adminstration” →

Property Moose Suspending Secondary Market

Property Moose announced last week that they are suspending their secondary market at the end of the month, February 28th.

Read more “Property Moose Suspending Secondary Market” →

Lending Works rates rise to 6%

Lending Works are raising their rates from tomorrow (Monday 22nd Jan). The 3 year product will rise from 4.0% to 4.5%, and the 5 year from 5.5% to 6.0%. Read more “Lending Works rates rise to 6%” →

Assetz Capital launches IFISA

Assetz Capital, one of the UK’s largest P2P lending platforms with over £400 million lent out, have launched their IF ISA (Innovative Finance ISA). They are giving access to the same investment products offered to non-ISA accounts:

You can now invest in all of our automatic accounts tax-free, with investment into the Manual Lending Account (MLA) using your ISA allowance available in Q1 2018.

Read more “Assetz Capital launches IFISA” →