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.
The Kent based national bridging lender, 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.”