Tiuta offers 0.89% bridging rate
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Tiuta is offering a bridging loan rate of 0.89% per calender month for properties within the M25 area.
The deal is available on regulated and unregulated loans at up to 70% LTV on an open market valuation up to a maximum loan size of £650,000.
Tiuta will also lend on properties over £650,000 at an LTV of 50%. The maximum loan size on this 50% LTV deal is £1m.
Guy Garrard, head of business development at Tiuta, says: “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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Readers' comments (3)
Robert Kennedy | 31 Jan 2011 2:20 pm
This is the kind of approach that is needed. A lender that has obvioulsy thought about a product and regionalised it. Obvioulsly people from outside the M25 wont be happy, but Im sure this will be the first of many regional products.
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Samuel George | 31 Jan 2011 2:44 pm
Dealing with the best Bridging Lender just got easier with the introduction of this extremely keen rate .. they promised last year they would be innovative & they have been good to their word..
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Anonymous | 31 Jan 2011 4:51 pm
This is good news for the market and something i will factor in when buying my leads.
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