Bridging lender Kuflink has completed a deal within five days of the first enquiry, helping the struggling client avoid receivership.
The client, an expat living in France, was facing the imminent risk of receivership on two UK residential properties.
Having tried to find refinancing, he had been let down by another lender.
With the final receivership court case imminent, the client’s broker turned to Kuflink.
Mikie Butcher (pictured), business development manager (BDM) at Kuflink, said: “Our service has always been based on a deep understanding of the market and specialising on the needs of clients requiring short term finance quickly.
“Thanks to our use of desktop valuations on the two properties and having employed the indemnified legal process which Kuflink has helped pioneer, along with the allocation of a dedicated underwriter, we were able to offer £450,000 (75% LTV) against the value of the two properties.
“The case completed in five days.”
Butcher continued: “Our ability to rescue a seemingly lost cause by meeting our client’s tight deadline on the deal, we saved his properties from receivership.
“Special thanks to Rishi Lockwood our underwriter, and London based law firm, DKLM LLP, for delivering another swift and seamless transaction.”
