A loan is in default when it is 1 calendar month past a missed payment, with this payment still outstanding.
FCA's Default Definition
A loan is in default when the borrower is past the contractual payment due date by more than 180 days (approx. 6 calendar months).
Kuflink's Default Definition
A loan is in default when it is 1 calendar month past a missed payment, with this payment still outstanding. This may be a monthly servicing payment or the full repayment at the end of the term.
In the event a loan goes into default as a result of late payment of interest or capital, Kuflink will immediately start taking action to recover the funds or remedy the loan on behalf of the investors.
You will continue to be paid interest until the loan is repaid.
In the event of a repayment shortfall, the order of payment priority will be capital first. Then, all interest due back to investors will be paid proportionally.
To date, our investors have not had any losses as a result of defaults.*
*Capital is at risk and Kuflink is not protected by the FSCS. Past returns should not be used as a guide to future performance. Securing investments against UK property does not guarantee that your investments will be repaid and returns may be delayed. Tax rules apply to IF ISAs and SIPPs and may be subject to change. Kuflink does not offer any financial or tax advice in relation to the investment opportunities that it promotes. Please read our risk statement for full details.
Updated 18th June 2021