Kent based national bridging lender, Kuflink, has helped a landlord client to refinance a property from its existing short-term lender when his efforts to obtain longer term finance had taken too long to complete.
The client, an accountant with a significant rented property 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.
Kuflink has built a reputation for its ability to act quickly, and the client had turned to Kuflink before, having been impressed with Kuflink’s speed and its dedication to a culture of service.
Kuflink provided a loan of £290,000 secured by a first charge on a two-bed house in North London valued at £410,000 over a term of six months. The mortgage will be repayable at the end of the term when the client refinances successfully on to longer-term finance.
Narinder Khattoare (pictured), CEO at Kuflink, 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. Kuflink was able to deliver.”
