Tiuta extends large loan funding line
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Tiuta has extended and doubled its large loan funding line to £60m, for use over the next few months.
The news follows a successful December and January during which Tiuta lent a £30m tranche of funds specifically available for loans between £1m and £30m.
Following its decision to offer a specific large loan proposition Tiuta has seen a four-fold increase in enquiry levels for the product, with a particular focus on prime properties situated in Central London areas.
Steven Nicholas, CEO at Tiuta, says: “We secured the new £30m large loan funding line at the start of December and within two months we have lent this facility out to the market. We are now able to announce a doubling in the amount of funds available for larger loans, up to £60m, and we fully expect this to be used given the increasing demand for bridging loans at the higher end of the market.”
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