Bridging lender, Kuflink, has announced the launch of its own in-house legal department as it moves towards a totally integrated service for introducers and their clients.
The company believes that setting up an internal legal function will enhance its operational speed, legal oversight and consequently its ability to execute deals faster.
While waiting for final approval to offer dual representation, Kuflink has set up a borrower legal panel which will work closely with Kuflink’s legal department.
Borrowers who opt for this service and appoint a panel firm will benefit from the streamlined processes and panel member knowledge of Kuflink’s requirements. This will be particularly valuable in competitive purchase situations and where auction deadlines are looming.
Ranjit Narwal, Kuflink’s head of origination, commented: “Primarily, the time taken to complete deals will fall dramatically with the legal process embedded in the lending operation from the start. 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.”
