Tiuta extends maximum loan size to £10m
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Tiuta has extended the maximum loan size on its first charge residential bridging product to £10m.
The bridging specialist has upped the maximum loan amount on its first charge residential bridging deal in response to intermediary demand.
The move comes on the back of extending its LTV for loans of up to £500,000 to a market leading 75% based on open market value and not purchase price.
Guy Garrard, head of business development at Tiuta, says: “Through a combination of sound financial backing and sheer hard work we have steadfastly remained active in the intermediary market for the past couple of years and we wish to reinforce the message that we are not going anywhere and if anything Tiuta is going from strength to strength.
“There is no question that it has all been plain sailing as we have all been affected in some way by the economic conditions.
“However, during this period a combination of consistent prudent underwriting and ongoing interaction with our intermediaries has certainly enabled us to continue in the right direction. Diversification is the key which is why we are extremely excited by some announcements we have to make in the next few months.”
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