Socially Responsible Lending: From Borrowers to Investors
In 2018, there will be a shortfall of around 3,000 care home beds in the UK, with significantly more places closing than opening each year. As a population, we are living longer and many of us will need residential care throughout our golden years, creating a demand for services that we simply cannot meet with the current provisions.
With this in mind, Kuflink Bridging was delighted when we were approached by property developers looking to secure finance in order to convert a former hotel into a care home. The developers have over 40 years of industry experience between them and had put together detailed plans for their 47-bed care home, which will benefit from fantastic facilities and a modern, comfortable environment.
We agreed a c. £1.2m loan with the borrowers, which has been drawn in tranches to fund each stage of the development. The loan, ‘Green Lane IG3’, was secured by way of a first charge and an independent surveyor has certified that progress is coming along well.
Kuflink are extremely proud of our own responsible approach to lending, and are sure you’ve heard about our stringent underwriting processes and overarching commitment to security. However, it’s always great to meet borrowers that share our values, and in turn, investors who believe in funding these socially responsible projects.
If you’ve got plans to make a positive difference to your area and need short-term finance to get started, speak to our sales team today to find out why our award-winning bridging loans could be the perfect solution.
Kuflink reports topping £20 million in peer to peer investment
Kuflink Reports Topping £20 Million in Peer to Peer Property Investment Since 2016
Banks reject P2P lenders on money laundering concerns
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From the eyes of a multi-millionaire
Multi-millionaire and co-founder of UK-based peer-to-peer lender, Kuflink, Rawinder Binning, tells Saloni Sardana why he stopped using private banking – and why his family prefer to manage their wealth internally.
How I invest: Ayo Adesina a software engineer with £32,000 in peer-to-peer
Mr Adesina, who describes himself as a novice investor, put the majority of the money – £32,000 – into a peer-to-peer property lending platform.
Spend, Save or Invest? Millennial Finances Revealed
The press tends to report millennials’ finances as belonging to one of two categories; the affluent young people or ‘Instagram rich kids’, or those stuck on zero hours contracts who are forced to live with parents well in to their thirties.
But how much spare money does the average young adult have, and how are they saving, investing or spending it?
Spending
According to research conducted by Strutt & Parker, millennials spend thousands of pounds per year on luxuries including:
One night out per week – £3,016
Takeaways – £1,320
Coffee – £625
Furthermore, UK millennials were shown to be the most interested in luxury spending, with a huge 70.8% classing themselves as ‘very interested’ in premium items!
Investing
Young people today have a wider range of investment options available to them than ever before – LBX research predicts that, by the end of 2018, ‘12 per cent of millennials will be invested in shares, 20 per cent in bonds, 19 per cent in precious metals and 18 per cent in property’.
This report also uncovered that one of the most popular new investment vehicles for this age group is cryptocurrencies, with 5 percent of those aged below 35 having already invested, and a further 11 per cent planning to invest this year.
Property has traditionally been one of the most popular investments, although current data shows that ‘the chances of a young adult on a middle income owning a home in the UK have more than halved in the past two decades’. As a result of this, more accessible investments such as Kuflink’s property-backed peer-to-peer platform, continue to grow at an exceptional pace.
Saving
49% of millennials consider themselves to be ‘savers’, with 23% claiming to save at least half of their disposable income each month.
Saving apps such as Squirrel and Chip are hugely popular with the younger generation – they regularly withdraw small amounts from your current account, ensuring regular contributions to your savings!
The average millennial has £8,384 in savings.
Make your money work harder for you with Kuflink and earn up to 7 times more interest than you would with a traditional savings account!† Kuflink is an online platform where you can invest in short-term loans secured against UK property, and earn up to 7.2% interest pa gross. *
*Capital is at risk. Rate correct as of April 2018. You should seek independent financial advice.
† Based on an average ISA return of 1.03% interest pa
