Kuflink unveils new buy-to-let and SIPP products
Kuflink has expanded its proposition with a host of new products and features, including the launch of its first ever buy-to-let lending product and a new self-invested personal pension (SIPP) pool.
The new buy-to-let product allows existing borrowers to refinance their original bridging or development loan rather than having to go to a bank. They will be offered a longer term investment of three to five years, based on an average loan-to-value (LTV) of 75 per cent, with interest paid monthly and the possibility of earning up to 3 per cent per annum. The product is eligible for inclusion in the Kuflink Innovative Finance ISA (IFISA).
The peer-to-peer property lending platform has also launched a SIPP Pool Product, in partnership with SIPP provider Morgan Lloyd. Customers will be offered SIPP-eligible, income-earning loans secured against UK property.
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Kuflink has also launched a new feature that enables users to re-term their IFISA and auto-investments up to 190 days prior to their expiry, enabling their investments to continue to earn interest.
The platform has upgraded its app with a range of new features, as well as releasing a new environmental, social and governance (ESG) page to show Kuflink’s key performance indicators, energy performance certificates for the head office, green property developments funded and governance committees.
In addition, Kuflink’s users can now buy and sell Select IFISA loans on the secondary market, a feature that was previously only available for Select Invest loans.
Looking ahead, the platform is planning to automate the withdrawal of monthly paid interest and is in the final testing phase of introducing multi-factor authentication, adding an extra layer of security to accounts.
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