Bridging lender Kuflink has launched its own in-house legal department, in what it describes as the next step towards delivering a fully integrated service for introducers and their clients.
The lender said the move is designed to improve operational speed, strengthen legal oversight and enable faster execution of deals.
Ranjit Narwal (pictured), Kuflink’s head of origination, said the new capability would have a threefold impact. “Primarily, the time taken to complete deals will fall dramatically with the legal process embedded in the lending operation from the start,” he said.
“Secondly, bringing the legal oversight in house will bring tighter control to every legal touchpoint, enhancing risk management.
“Lastly, the in house legal team will bring a higher degree of professionalism to the lending process.”
Kuflink is awaiting final approval to offer dual representation. In the meantime, it has established a borrower legal panel to work closely with its new legal department.
Borrowers who choose a panel firm will gain from streamlined procedures and the panel’s familiarity with Kuflink’s requirements – an advantage the lender says will be particularly valuable in competitive purchase situations and when auction deadlines are approaching.
