Kuflink

Kuflink is a UK property-backed peer-to-peer (P2P) lending platform connecting retail investors with borrowers seeking short-term bridging and development finance. The business began in 2011 as Alpha Bridging and was rebranded to Kuflink as the P2P platform launched. Kuflink Ltd (FRN 724890) is directly authorised by the FCA as an Online P2P Platform and is an HMRC-approved IFISA manager.

The group operates several related entities: Kuflink Bridging Ltd (FRN 723495), Kuflink Home Loans Ltd (FRN 571773, regulated mortgage lender) and Kuflink One Ltd (FRN 922026, Open Banking AISP). Platform-reported metrics as of 2026 include cumulative invested of approximately £447m with around £375m repaid to investors.

Recent leadership and group changes include Rawinder Binning assuming the CEO role of the Kuflink Group in March 2025 and Hari Ramathury rejoining as CIO. The group was reported in June 2026 to have changed its parent name from Kuflink Group Limited to The Something More Group Ltd.

Investors register, complete verification and then choose between manually selecting individual loans (Select-Invest) or — historically — automated pooled options (Auto-Invest / Pool). Kuflink sources loans via Kuflink Bridging Ltd and related origination teams, conducts credit and property due diligence and takes legal charges over property as security.

Historically Kuflink co-invested (up to c.5%) alongside investors in Select-Invest deals and at times provided loss coverage from its own funds. From 25 September 2025 Kuflink ceased using its own funds to cover investor shortfalls — investors now carry the full loss risk on bad loans. Interest schedules vary by product (monthly, compounded, or paid at maturity). Investments are not covered by the FSCS; capital is at risk.

Kuflink publishes two default measures: an FCA-aligned 180+ day definition and an internal definition based on 30+ days overdue. As of mid-to-late 2025, reported FCA-defined defaults were c.16% (2024) rising to c.18.7% (2025); under the internal 30+ day measure, c.38.6% of the book was flagged overdue by July 2025.

Core products are Select-Invest (pick loan parts; minimum £500) and historically Auto-Invest / Auto-Pool (automated diversification; minimum £1,000). Kuflink also offers IFISA-eligible investments and SIPP-eligible arrangements via a regulated SIPP provider, plus a Buy-to-Let Pool (launched 2022) with 3–5 year terms targeting lower returns for refinancing purposes.

Following an FCA mandate effective 19 November 2025, Kuflink was required to close Auto-Invest to any further money, cease lending to connected persons and obtain written FCA permission before onboarding new lenders. This removes a previously available automatic diversification route for new investors and limits reinvestment of returned Auto-Pool funds.

Fees and liquidity: the secondary market is open for many Select loans (seller pays 1%; buyers pay no fee) but sales are not guaranteed and are restricted for loans in default or arrears. Early exit or liquidation may attract a fee of 2% or £500 (whichever is higher) at Kuflink's discretion; repeated withdrawals of uninvested funds may be charged £5 or 1%. Promotional headline rates of up to ~10.26% gross p.a. are marketed but should be treated as target rather than guaranteed returns.

Kuflink targets experienced retail investors comfortable with higher-risk property-backed P2P lending. Investors who require principal protection, immediate liquidity or FSCS cover should not consider this product type.

Capital is at risk and the Auto-Invest diversification route is closed to new money, reducing the hands-off option. The secondary market provides limited liquidity but sales depend on demand and product status. Tax wrappers (IFISA and SIPP access) can support tax-sensitive investors but do not remove platform or credit risk.

Strengths. Loans are typically secured by first or second legal charges on UK property, which can support recovery in default scenarios. The product range includes tax-wrapper access (IFISA, SIPP) and a secondary market for Select loans, providing potential exit routes. In 2023 Kuflink secured a £35m revolving credit facility arranged with Paragon Bank to support funding certainty.

Risks. The FCA's binding restrictions effective 19 November 2025 (Auto-Invest closure, ban on connected-person lending, required written FCA permission for new lenders) are a material governance concern. Reported default and arrears rates are materially higher than many peers. Kuflink ceased its own loss-coverage support in September 2025, transferring loss exposure fully to investors. A 2024 Financial Ombudsman decision (DRN-5982222) identified weaknesses in recovery communication handling, and the firm's Trustpilot score sits at c.2.7 / 5 across more than 1,200 reviews, with recurring complaints about withdrawal delays and retrospective changes to terms. Past auditor concerns (Ernst & Young warnings and resignation in 2020/21) are also relevant to assessing governance.