Kuflink secondary market sees spike in activity in August
Kuflink has confirmed increased activity on its secondary market in August this year, with trading stabilising in September and October.
The spike in activity appeared to have been triggered by increasing economic uncertainty and cautious investors choosing to offload some of their investments.
Kuflink launched its secondary market in February 2019, and has since added various loan parts and products to the offering, including adding select Innovative Finance ISA (IFISA) loans in February this year.
Read more: Kuflink adds select IFISA loans to secondary market
“We were expecting this to increase due to the cost of living crisis, the short term stay of [former Prime Minister] Truss and the mini budget announcement,” Kuflink chief executive Narinder Khattoare said.
He said activity was likely to continue in the run-up to Christmas and New Year, when people are generally minded to check on and reassess their finances.
“What we have seen is that people are still buying loan parts on the market and we are yet to have any negative feedback from our bigger investors on the market as a whole,” he added.
“The secondary market has proven well over the years we have had it in place. Even during the pandemic we demonstrated that it’s a marketplace where there is activity and investors always willing to buy loan parts.”
Earlier this year, Kuflink passed the £200m milestone of total funds invested to date, and the loanbook has grown year on year. In September the platform said it aims to double its loanbook by next year.
Read more: Kuflink to launch commercial buy-to-let loans