Tiuta launches a three-year fixed rate B2L product
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Tiuta has launched into the main-stream mortgage market with a three-year fixed rate buy-to-let product at 6.99%.
The deal allows for borrowing on 70% of a property’s open market value but not more than 85% of the purchase price.
The product also features a maximum loan size of £2.5m and has no redemption penalties in its third year.
There is 110% rental calculation on the deal as well as a 3% facility fee which can be added to the loan amount.
Access to the product will be ex-clusively through the company’s packaging partners Savills Lending Solutions and Omega.
Guy Garrard, head of business development at Tiuta, says: “There are elements included in this deal which are not available elsewhere at the moment. We believe there’s still a place for responsible innovation if lenders are prepared to push the boundaries.”
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