Kuflink raises investor rates
Kuflink has become the latest peer-to-peer lending platform to raise its investor rates.
The property lender is now listing target rates at 9.73 per cent per annum, up from its previous target of 8.05 per cent per annum. These rates refer to the maximum amount which can be earned via the platform’s five-year accounts.
The rate rise is in response to investor feedback and the ongoing central bank rate hikes.
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“Our investor relations team are constantly in contact with our investors to discuss how can we improve the services that we offer via our platform, we have always listened to what our investors have been telling us,” said Paul Auger, head of products at Kuflink.
“To ensure we can continue providing the same great service as our investor base grows, we have recently hired two new team members to continue providing the high standard of service our investors deserve.
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“Our survey that was undertaken as part of our consumer duty responsibilities also reconfirmed that we should continue reviewing the interest rates that we offer our investors as well as the rates charged to borrowers.”
Auger added that Kuflink has also introduced a ‘promotional rate boost’ up until 30 May 2023, which will ensure that investors “continue to exceed the returns they can expect from bank and building societies”.
A number of P2P lenders have been increasing their investor rates in recent months. Loanpad introduced a series of monthly rate rises last year, and last month CrowdProperty increased its rates to between 7.5 per cent and 8.5 per cent, up from 6.2 per cent to 7.8 per cent previously.
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