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November 2025: Lets hope I am wrong

3rd December 2025: Things are a little clearer now, transparency is always important, the next couple of weeks are key

13th December 2025: So things( in my limited view) have certainly stabilized, but I don't think everything is fully settled, the amount of properties on the secondary market shows an increased level of concern, but they are selling. Whilst Sporehams Lanr Tranche 19 is open about the situation and the properties are certainly nearly complete, 87.81% LTV is very risky, more risky than any other select investment I have seen on the platform (does anyone understand the metrics they use to rate the risk ?, I cant see transparency here). All you need is a little cost over run and offers to be 10% below market value and its all gone, let alone how long million pound properties take to sell. I am also concerned at the lack on deal flow (which drives revenue for them)

It seems that my concerns (and signals) were around auto invest loans which seem to have some default issues (and have had for a long time), the problem was whilst Kuflinks didn't exactly hide the situation, they did take investments to pay off other investors, which masked the situation and it eventually caught up with them. Personally I was concerned about this and only invested a very small (1%) amount of my funds (of which 10% has been repaid already), but to be fair to people who did invest in auto invest loans when I challenged them on the need for a constant flow of funds, they said that they had only missed repayments at the height of COVID and they were only a month late.

Finally, the interesting question is whether this presents a buying or selling opportunity, there are certainly some opportunities with the secondary market more active than I have ever seen it before, but you need a stable lending organisation to drive the deals and in the event of default chase the debtors.