Kuflink launches secondary market

By Roger Baird on Thursday 7 February 2019

Alternative Lending

The peer-to-peer property investment lender said the move gives investors greater management of their portfolios.

Property-backed peer-to-peer lending platform Kuflink has launched a secondary market, giving investors the chance to buy and sell loan packages.

The Gravesend-based business founded in 2016 said the move gave “further flexibility” for investors on its platform who want to manage their portfolios.

It said that lenders could list most loan parts on its market, although some restrictions do apply. Loans in default, or less than a month from redemption, cannot be traded.

The fintech business said it will charge a 0.25 per cent administration fee to sellers, but the market is free for buyers. Loan parts must be sold for par value.

Chief executive Narinder Khattoare said: “The whole team here at Kuflink are delighted to have launched our secondary market, the first in a long line of impressive products we’re bringing to the market this year.”

Last month, the firm expanded its short-term finance unit by hiring a new underwriter to meet growing demand. It hired Hiran Patel to join its Kuflink Bridging unit. He left an underwriting post at Equifinance, a second charge, or secured loan, mortgage lender.

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