Peer-to-peer property investment platform Kuflink has expanded its short-term finance unit by hiring a new underwriter to meet growing demand.
The Gravesend-based business has hired Hiran Patel to join its Kuflink Bridging unit. He leaves an underwriting post at Equifinance, a second charge, or secured loan, mortgage lender.
The platform says that Patel, who has almost a decade of experience in finance, will focus on adhering to regulatory standards and making sure loans meet lending criteria.
Kuflink chief executive Narinder Khattoare said: “Following the launch of our quick bridge product at the tail end of 2018, we’ve seen a huge spike in uptake from new brokers as well as familiar faces.”
He added: “Hiran joining the team will help us to meet this growing demand, maintain our high standards and continue improving upon our already award-winning bridging service.”
Patel will be the operation’s second underwriter, working under the firm’s senior underwriter. Kuflink employs around 35 staff.
Kuflink, which launched in 2016, provides “quick access to short-term finance”, which it says high street banks would struggle to provide, while offering investors higher returns than regular savings or current accounts.
It added that so far that Kuflink lenders have invested over £33m, posting no losses to date.