Kuflink to target development finance

Kuflink chief Narinder Khattoare said the property peer-to-peer lending platform will increase its focus on development finance going forward.

Khattoare (pictured), told Peer2Peer Finance News that bridging will remain Kuflink’s core business, but the lender has more appetite for development finance and will conduct more of these deals.

Read more: Kuflink reports £5m of inflows since end of February

“Development finance is where I see the market moving towards,” he said.

“The government is looking for the economy to get back to work, there’s a shortage of houses across the country. A lot of builders are returning to work and we need infrastructure, the country needs new schools and houses to be built.”

Read more: Kuflink hits £75m investment milestone

Khattoare said Kuflink has continued lending throughout the coronavirus pandemic and has paid a substantial amount back to investors.

Post Covid-19, he predicted a new group of investors to join the P2P marketplace.

“We’ve been actively lending as much as we can during this time and as we come out of lockdown I envisage investors will become more confident about investing and I expect new entrants into the marketplace as well as other platforms moving away from P2P lending,” Khattoare said.

“The employment rate will go up and I think new investors and property developers will come into this marketplace.

“The price of property is still relatively strong. There was a slight dip in valuations during the lockdown period, but people are positive. There is lots of money sitting in bank accounts and people will either buy, sell or upsize.”

Read more: ‘Kuflink not cufflinks!’ How do Southampton footballers score when it comes to P2P?