Kuflink completes £171,500 bridging loan in four days

Kuflink has completed a £171,500 bridging loan in four days to support the purchase of an investment property in Croydon.

The loan was then funded by investors on Kuflink’s P2P platform in under four hours.

The borrower needed quick access to funds for the purchase to add to his current portfolio of circa £2.5m.

The loan was secured by way of a first legal charge over an unencumbered property within that portfolio.

It will be repaid following refinance on to a BTL mortgage and the completion follows the recent launch of Kuflink’s five-day bridging product.

Narinder Khattoare, CEO at Kuflink (pictured above), said: “Once again we are proving that borrowers are turning their back on the high street banks and coming to Kuflink for our speed and unrivalled service.

“The team worked hard to achieve this result in a matter of days, and the fact that our P2P community funded this deal in a matter of hours shows just how well we understand our borrowers and investors.”

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