Specialist bridging lender Kuflink has stepped in to save an expat client from receivership in what it describes as a record turnaround, completing the £450,000 transaction within five days of first enquiry.
The borrower, based in France, was under immediate threat of losing two UK residential properties after a previous refinancing attempt fell through.
With a receivership court hearing looming, the client’s broker turned to Kuflink for urgent support, citing the lender’s reputation for handling complex and time-sensitive cases.
According to Mikie Butcher, business development manager at Kuflink, the speed of the deal was made possible by a combination of technology-driven valuation methods and the use of an indemnified legal process, which Kuflink has helped develop.
“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,” Butcher (pictured) said.
“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 5 days.”
He added that meeting the client’s urgent deadline ultimately saved the properties from receivership.
“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.”
