Kuflink has launched three products including a development finance product for ground up, refurbishments and conversions, a quick bridge product and a commercial and semi-commercial product.
The quick bridge product is for bridging deals to be completed within five days from receipt to application, has a maximum LTV of 75% and rates from 1% per month. It’s available for all bridging products, has title insurance to help speed up the process and valuers are instructed immediately, upon receipt of the fee.
Terry Pritchard, head of origination at Kuflink, said that on this quick bridge product any application that takes longer than five working days, either due to Kuflink or the client, will only revert back to Kuflink’s standard rate.
He said: “The team at Kuflink have looked long and hard at the gaps in the market where we feel we can bring added value to the brokers’ portfolio of products.
“We have a flexible approach to underwriting and know that both existing and new introducers will like the service we offer and be happy they chose to use us.”
The development finance product is for ground-up developments, conversions and for light, medium and heavy refurbishments, offers flexibility on location and types and has rates from 0.85% per month and the maximum loan is £3m although more may be considered on a case by case basis.
The valuation is based on 70% LTGDV and it also offers a commercial structured product for quick and efficient completion.
Kuflink’s commercial and semi-commercial product is for its chosen brokers. It has an LTV to 75%, rates from 0.75% per month, most property types are considered with no restrictions on location, retained interest is available and the DIP will be delivered within four hours.
Martin Swann from Try Financial, said: “Kuflink really went above and beyond for my client in this case and demonstrated clearly their commitment to flexibility. The situation was complex and many lenders weren’t prepared to invest time to consider my client’s circumstances.
“However, the whole Kuflink team worked tirelessly to package a solution. I can’t thank them enough for their open approach to what was an extremely difficult case and can’t recommend them highly enough.”