Kuflink has completed a £171,500 loan for a new borrower in just four days, following the launch of its 5-day bridge product.
Kuflink has completed a £171,500 loan for a new borrower in just four days, following the launch of its 5-day bridge product.
The loan was then fully funded by investors on their peer-to-peer platform in under four hours.The borrower needed quick access to funds to complete the purchase of an investment property in Croydon, which adds to his current portfolio of circa £2.5m.
The loan was secured by way of first legal charge over an unencumbered property within that portfolio and will be repaid following refinance onto a buy-to-let mortgage.
NarinderKhattoare, chief executive at Kuflink, said:“Once again we are proving that borrowers are turning their back on the high street banks and coming toKuflinkforour speed and unrivalled service.
“Theteam worked hard to achievethisresultin 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.”
