Kuflink closes £290,000 bridging loan in five days

Kuflink has completed a £290,000 bridging loan within five days for a landlord client looking to refinance a two-bedroom house in North London valued at £410,000.

The client, an accountant with a large BTL portfolio, had been unsuccessful in moving his property onto a long-term mortgage arrangement because of time difficulties.

Unable to extend his arrangement with his existing bridging lender and needing to refinance quickly, the client approached Kuflink, which was able to provide the necessary funds at 70% LTV over a six-month term.

The loan will be repayable at the end of the term when the client will refinance onto a longer-term mortgage.

Narinder Khattoare, CEO at Kuflink (pictured above), said: “Kuflink has always had a reputation for providing finance on more challenging projects, but this case demonstrates our commitment to being able to pull out all the stops to get a deal done. 

“The client needed finance fast to repay his existing lender and to give him time to arrange suitable long-term financing, and Kuflink was able to deliver.”

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