Kuflink Reviews 1,226

Kuflink was a great little company a few years ago but since the management changed they need locking up. I contacted the FCA regarding recent reviews and found out that they have blocked the company from taking on any new customers. I stupidly invested 20k in an IFISA before the management changes and a lot of this money has been used to finance mates, friends and cronies with nothing to do with property, bridging loans etc. Some money has been paid back into my previous ISA wallet but trying to get the money out of Kuflink is another story. I am sick and tired of phoning them only to be told that they are very busy hence my contact with a really helpful gent from the FCA. As they say you live and learn. This lot need locking up ASAP!!!!!!!!!!!!!!

I will list out some of kuflink's critically bad errors to make it clear why the FCA have banned Kuflink from taking on new clients, and the reasons why their investors, as you can see in the reviews, have lost faith in them:

* They used the platform to lend money to the projects of friends and family of workers/shareholders. This is a huge conflict of interest.
* They lent money out secured against *shares* instead of property without telling investors. The whole point of kuflink was supposed to be property backed loans, not shares of subjectively valued companies.
* Defaults hit over 40% of their holdings.
* They changed the terms and condition on EXISTING investors. Removing all support for them.
* They passed down dozens of loans over 4 years into default to NEW investors effectively giving them quite possibly worthless debt with, as 4thway reported, no discount. This debt is potentially worthless and they absolutely screwed these investors.
* They had been recycling this bad debt for years, effectively creating zombie loans and a Ponzi scheme where new investors bailed out old ones until they couldn't anymore. Absolutely scandalous of them.
* All repaid investments in the shared pool get immediately paid out completely knee capping any interest rate upside from these investments which means investors hold all the risk of their bad debts with very little interest to make up for the huge risk they are now taking.

I invested with them for years, over 50k, they were great for a long time, but looking at the inners of their operation now, you can see there was a lot of rot, unfortunately.

Now they're banned from operating on new clients for good reason and many of us will lose money because they completely hid that they were under FCA investigation before becoming banned. Allowing investors to blindly keep pouring money into dead loans.

They need to be completely overhauled or wound down from their current state because, unfortunately for my money and others, they cannot be trusted to act transparently or responsibly.

And to those who say:

Defaults are part of p2p.

I say this:

Passing on 4 year plus irrecoverable bad debts whilst hiding an FCA investigation is not what p2p investors sign up for.

As good as kuflink have been on a case by case basis, the writing is now on the wall.

Cannot understand how investors can be happy with Kuflink as it is run these days. My wife & I have been investing here for a number of years, but since say the start of 2024, the number of defaults have been increasing out of all proportion, and now number around 50% in value! This is a disgrace, and I wonder where 'due diligence' went when these loans were agreed. The recent change to the 'rules' for the auto pot maturity payments is also a disgrace, and I have made an official complaint to the FCA about it, as I cannot see how they can change the 'rules' midway through the 1yr, 2yr, or 3yr etc period of each pot. To add insult to injury, any repayments from our e-wallets, to our bank account is taking ages - it used to be roughly overnight, but now it is at least the 5 days they say it MAY take. Sounds like deliberate holding on to our funds! Furthermore, the list of pots is so difficult to follow nowadays, to check on all the 'fiddly' bits of money coming in to our e-wallets. I can only assume that the details of our auto pots are updated when we get all these 'fiddly' bits, as our defaults have fallen from something under 60% to a little under 50% in the last couple of days. Also we have just received +/-£550 into our e-wallets, but no note to tell us this. Very bad communication recently, on a number of fronts.

Kuflink have many questions to answer. 4thWay has a detailed review report which tells us exactly what the problems are.

Something has gone desparately wrong at Kuflink. It used to control loans well and take early recovery action when needed. It no longer does this, just giving meaningless repeated updates indicating things will be sorted soon. Defaulls are now mounting and I must withdraw my previous positive comments.
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RD
Richard Dodd

£2,893.31
* Don't invest unless you're prepared to lose money. This is a high-risk investment. You may not be able to access your money easily and are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

Important Update Regarding Your Kuflink Pool Investments. Read more

Total amount invested
£444,147,094.02
Total number of investments
1,033,513
Total Capital Repaid
£334,786,843.75
Total Interest Paid
£26,500,450.63
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Select/Select IF-ISA |
Broadlands Avenue SW16 Tier-1
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Absolutely awful company.
You CANNOT even get your own money withdrawn.. There is zero consistency with this company. There are huge internal problems , and have zero empathy for retail. Avoid at all costs.

Select IF-ISA Invest - In May 2022, I chose to invest or allocate a small amount of funds into a secure loan on property X for approx. 12 months.
All was going seemingly well, with monthly interest accrued as per agreement.
In April 2023, 11 months later, I received the following to inform the loan was now in default.
‘Our client has made us aware that they will be unable to repay this loan by the current loan end date of xx May 2023. Our client has asked us to consider a re-term, which we are currently reviewing to see if we are able to offer the additional time our client has requested. We will provide an update no later than xx May 2023’.
Little did I know at the time, that the previous 14 Tranche - Select IF-ISA Invest offerings on this property commencing from 20 November 2020, were all in default. Therefore, in my opinion, the above statement is seemingly false.
Digging deeper, I established the exact same format or practice had taken place with the previous 14 Tranche loans. Each loan, 1 month before maturity had received the same notification as above to inform of default.
It gets better. There are currently 40 Tranche loans registered against this property. All have the same pedigree as above, all are in default.
In short, I invested in a so called ‘new’ secured loan offering that even before being ‘available’ to investors on the platform, Kuflink had already enrolled it in the default book.
Kuflink, in my opinion have blatantly misled investors. I certainly was unaware I was investing in a defaulted or debt loan from the outset. Nowhere does it tell you upfront or at the time, you are investing in a loan that is already in default. Who would invest in, or back a lame horse?
Kuflink, knowingly waiting 11 months before sending out their standard templated ‘bad news’ notification of loan default just prior to the ‘maturity’ date, takes 1st prize for the Rotten to the Core Apple Award. Kuflink was fully aware of their game plan from day one. It is all part of the set up to play the investor along.
What was once a 12 month investment is now 3 ½ years old with no end in sight of redemption? I have in total received 21 status updates, but one has to question the validity of the said. The maturity date keeps moving forward.
The interest accrued is of no significance as it is trapped in the overall default. Furthermore, under the changed T&C’S no further interest is accrued, plus interest for loans which have passed the original maturity date will be retained and paid subject to the borrower’s repayment.
This is not an isolated case by far, only the tip of the iceberg!
There is a big difference between the knowledge of investing in a high risk investment environment and investing in a methodology of deception.
Kuflink’s ethics and operations need urgent FCA investigation and exposed.

I’ve been a customer with Kuflink for quite a while now and have always been happy with the service. I’m really looking forward to seeing some new investment availability soon, it’s the only thing I’m waiting on at the moment.

I may have to consider putting some funds elsewhere in the meantime, which I’d rather not do as I’ve been with Kuflink for years and trust how they operate. Hopefully there’ll be some new opportunities available soon so I can keep my money working here.

Desperate for some availability!

I’ve been a long-time customer and generally very happy with Kuflink, but I’m getting a bit desperate for some new investment availability. I currently have money just sitting in my wallet doing nothing, and anything that appears on the secondary market gets snapped up within minutes, it’s almost impossible to invest at the moment!

I really don’t want to move my funds elsewhere, but unless something opens up soon, I might have to transfer out for a while. Hoping to see some new opportunities available soon!

It seems like people are either really happy with Kuflink right now or really not, I’d say I’m still on the happy side overall. I’ve always had a good experience with them and found the team helpful.

That said, I’m getting a bit desperate for some new investment availability. I’ll keep waiting a little longer, but if nothing opens up soon, I might have to transfer out for a while just so my money isn’t sitting idle.

I do think some of the potential losses being talked about are from older loans, probably linked to previous management, and to be fair, many of those development loans were always going to be challenging given everything happening in the world.

Overall, I’m still positive about Kuflink and hopeful things will settle and pick up again soon.

I’ve been investing with Kuflink for a while now and wanted to share a bit of positive feedback. The team have always been really friendly and approachable, it never feels like you’re being passed around or fobbed off. Whenever I’ve called, they’ve taken the time to talk things through properly, which honestly makes a big difference.

It’s clear they’re working hard to get everything in order after all the recent changes, and you can really see the effort behind the scenes. I actually spoke to someone recently about their loan recovery data, and it was extremely encouraging, a lot more progress has been made than I’d realised!! That gave me a lot of comfort and confidence moving forward.

Yes, P2P lending naturally has its ups and downs, but from what I can see, Kuflink are genuinely trying to make things more transparent and investor-friendly. Overall, I feel positive about where they’re heading and happy to stay invested.

A number of investors have highlighted the sudden appearance of defaults in this product and the company’s response has been that it’s not something new and has been there even before. While this is true, what the investors are actually highlighting is that, of late particularly since the appearance of the new terms and conditions, these defaults have resulted in delayed repayments or partial repayments of the capital and interest, at the end of the term. Defaults or not, the investors would always be repaid in full at the end of the investment term in the auto-invest, unlike in the select invest. That’s not the case since recently. So the incentive that the investors had to some degree in the past of being repaid at the end of the term despite the company’s disclaimer, is gone and it’s now no different from select invest.

We were happy customer for years but the recent changes have put us off the increased investment we were going to make and instead we have chose to reduce the percentage of our overall savings with kuflink . Having 40% of savings tied up for an undetermined period of time in default loans means it needs to be a much smaller part of an investment plan, which is fine but I feel how this was done and communicated even if it was legal was unfair, in particular applying it to existing Auto IFISA deals. Still plan on investing in the long term with Kuflink once we have withdrawn enough to bring our exposure down.

They recently changed their policy, and if you opt into auto-investment, be prepared to lose a portion of your money—guaranteed.

My loan just matured. I was supposed to receive £400 in interest, but instead I ended up with a £1,500 loss!

This feels like one of the biggest legal scams in modern history. I wouldn’t be surprised if they make headlines soon or end up in administration.

Replaying to Kuflink:
"all of your capital from performing loans has been fully repaid, and you have not lost any money with us to date" this is misleading and a lie!

- Performing loans + interest in my loan pool paid me around £3500.
- Defaulted loans in my loan pool was about £1500
- £400 pending amount (probably will be changed to defaulted loan amount).

Instead of receiving £5400, you paid me back £3500. Regardless how you try to call it and play with words, until today I am £1900 in loss!!

Update to your response 31/10:
That's mean you are referring to someone else!
I have two loans, once got matured yesterday!

2nd Update to your response 31/10:
I don't need any help from you here, I simply wrote a review. I have already called and spoke to your team, and they confirmed the above details!!

I have been a long-term investor with Kuflink, having invested in their Autoinvest pooled service for several years. It promised a set return for investing your money for a set period of time. You had a choice of investing for 1, 2, 3 or 5 years.

However, I and other investors have recently been horrified to discover that Kuflink have retroactively altered their terms and conditions, significantly affecting the returns on the AutoInvest scheme!

It has come to light that approximately a gargantuan 40 per cent of the loans within the AutoInvest portfolio are now in default, with a further several per cent marked as pending.

This is deeply concerning and raises questions about the company’s commitment to managing risk and communicating transparently with investors.

Having previously experienced losses with other similar peer-to-peer lending platforms such as Collateral, Moneything, Lendy, Funding Secure and Wellsley & Co, I am unfortunately familiar with such setbacks. While I managed to exit some of these investments without too substantial losses, it now seems like my decision to stay with Kuflink will lead to large loss of of my principle and returns.

What’s equally troubling is the poor customer service I have encountered. Staff have been dismissive and unhelpful when I raised concerns, and it feels as though they are trying to gaslight me as regards the significant changes to the terms and conditions, despite their colossal impact on investor returns. This lack of transparency and support has left me feeling tremendously frustrated and disillusioned.

In light of my experience, I would caution potential investors to approach Kuflink with caution. The combination of awful communication, suddenly altered terms, and a disregard for investor interests leaves me questioning the company’s long-term reliability and ethics.

I sincerely regret my decision to invest with Kuflink and would strongly advise others against risking their funds. They are going down the pan!

I am a former qualified financial adviser turned full‑time mother.

I placed my family’s life savings across fixed period Auto‑Invest schemes with Kuflink. I did so on the basis of receiving guaranteed interest returns after the multi-year period had ended, just like one gets with a bank savings bond.

In recent times Kuflink has suddenly enacted a series of abrupt, investor‑damaging T&C changes that have, for instance, effectively imprisoned nearly half of my funds in loans that are non-performing, in eternal default and highly toxic.

I am incredibly concerned for my other Kuflink investments because all the signs point to a deliberate wind‑down of Kuflink's business, kicking retail lenders to the curb.

When my Auto‑Invest investment matured a few days ago, Kuflink paid only about 55% of the capital and interest owed!

Endless requests for explanation and resolution have gone unanswered.

The departure of the previous Kuflink management, including around 25 other staff, and replacement with a new team has resulted in a new set-up at Kuflink. The new workers at Kuflink are highly disdainful of investors and uninterested in protecting lenders’ interests.

In the last few weeks, different industry experts in British peer‑to‑peer investing have openly expressed astonishment at Kuflink’s sudden change of T&Cs and how they are treating their investors.

I join the many online reviewers here on Trustpilot and elsewhere who are appalled by the cumulative effect of recent policy changes on ordinary lenders.

As Kuflink are determined to take advantage of their retail lender base and throw their rights out of the window, and they do not bother to reply to e-mails and the like, I will be commencing legal proceedings to recover what is owed to my family and I.

Prospective investors should avoid Kuflink like the plague, as they will be severely let down.

I too was disappointed with the recent poor, abrupt communication of the T and C's change. However, I made an enquiry yesterday regarding multiple repayments made to me that I didn't quite understand or track. The response I received today was prompt and fully explained the reasons for the repayments and also explained that software enhancements to improve transparency of the transactions were in the pipeline. That's the level of communication I have come to expect from Kuflink. I think lessons have been learnt and that's all we ask.

The change in management also brought in a change in style of communication, and not for the better. The T and C's change was poorly communicated which eroded trust in the company. I spoke to someone at customer services who agreed that this was not done in a considerate way.

In the end, I decided to reject the T and C's, mostly to avoid any more auto enrollment. I'm getting a fair bit out now but also realise it'll be a long time before I see all my money back (which is highly unlikely). It does, as other posters suggest, feel it is being wound up - alas it is not like a rate setter experience, who were brilliant, but more like an assetz capital experience, which has been less than great.

Used to be a good platform but two things have changed:

1) New loans are typically being made to borrowers with low credit quality. Security is often opaque and not as good as it first seems. The interest rates offered to investors do not compensate for the risk. Risk-adjusted returns are now actually negative in many cases. Where they are positive they are rarely above bank savings rates.

2) Kuflink has been kicking the can down the road on Auto bad debt for years until a third of the Auto book was in default. That's how they could claim they'd never lost a penny for investors "if it's sounds too good to be true - it usually is". Now they have decided unilaterally to saddle the current crop of existing investors with all of that bad debt accumulated from years and years of lending. More than that, they have fundamentally changed the nature of these existing agreements mid-term. Investors who agreed to fixed terms of 1, 2 or 3 years now find themselves locked in for perhaps 10 years until all that historic bad debt is worked it's way through the courts. What's more, they are repaying the performing loans long before the end of those 1, 2 or 3 year terms which destroys the upside for investors too. It's all just horrible and with no way to escape.

Rebuttal to Kuflink's response: Kuflink's own systems show "Low Credit Score" against many of their recent deals hidden under the Security tab. They are knowingly lending investor's money to people who have a history of not paying people back.

I’ve been waiting for more than three weeks to withdraw my capital. The customer service team keeps assuring me that it will only take one to two working days – but nothing has happened. Despite several follow-ups and repeated confirmations, my money is still not available. Very disappointing experience. I can no longer recommend Kuflink.