Tiuta has launched Tiuta direct, an online facility that provides instant Approval-in-Principle which can be converted into a full on-line application.
It has been launched in response to the need for immediate decisions to be available to buyers seeking to benefit from time sensitive purchases such as auction house and distressed sales, or a last minute requirement to restructure debts ahead of future refinancing.
Tiuta Direct enables FSA authorised brokers to receive an instant decision by way of an automated Approval in Principle.
Brokers can choose to proceed the Approval in Principle to a full on-line application, with all of the information uploading to a printable application form.
The broker can also choose to pay the fees on-line.
Gary Booth, chief executive officer at Tiuta, says: “Most brokers that are recommending bridging finance have clients with an immediate need, whether it’s to invest in a property purchase or restructure debts; as a consequence they can not afford to hang around. At Tiuta we have always offered a decision within an hour, and this will still apply for those loans that don’t meet the online facility, but for the majority that do, the broker can receive an immediate decision.”