Tiuta enhances bridging range with 0.89% rate
Tiuta, the short to medium term loan specialist lender, has enhanced the criteria on its residential bridge product to create a market-leading bridging loan with a rate of 0.89% pe
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The residential bridging product is available at up to 70% LTV on an open market valuation (OMV) up to a maximum loan size of £650,000. Tiuta will also lend on properties over £650,000 at an LTV (OMV) of 50%. The maximum loan size on this 50% LTV (OMV) deal is £1 million.
Guy Garrard, head of business development at Tiuta, commented:
“As a progressive specialist lender it is important we build on our 2010 successes in the short-term arena and as such we have decided to enhance the criteria on an existing product with the specific aim of helping the London market.
"These enhancements reflect our optimism both in the capital’s property market and in the continued demand for short-term finance. But this is only the beginning as we have a number of exciting plans and innovations in the pipeline for the UK market.”
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