Kuflink Limited is committed to treating customers fairly and to only offering loans via the platform which are appropriate for our customers. To ensure that this happens, all underwriters are employed to work independently from the Kuflink Group.
The Kuflink Credit Committee has been established to provide a secondary underwriting function to all loans before they are added to the Kuflink platform.
When considering an opportunity, Kuflink Credit Committee take a number of factors into account, including:
- The loan to value – max LTV 75%
- The valuation (no older than 90 days)
- The security that has been offered
- Kuflink Credit Committee will employ the use of a variety of types and sources of information available to them to assess affordability of the borrower;
- Record of previous dealings with the borrower
- Evidence of income and expenditure
- The age of the borrower
- A credit report from a credit reference agency
- Whether any adverse credit has been entered onto the credit records in the last 12 months
- Information obtained from the borrower
- Kuflink Credit Committee will take a view on what is appropriate in any particular circumstance dependent on, for example, the type and amount of the credit being sought and the potential risks to the lender and borrower
Furthermore, borrowers must be able to demonstrate a viable, realistic exit strategy such as sale of the asset or refinancing.
If the exit strategy is to sell the property, we will assess the likelihood of this based on an independent valuation and reports from external agencies.
If the exit strategy is to refinance, our underwriters will assess the likelihood of this by speaking with brokers and banks.