Tiuta launches bridging loan available within the hour

Tiuta has launched a short-term bridging loan which allows professional investors to secure funds within an hour.

The Suspension Bridge product provides an agreed total borrowing level with a drawdown facility which allows borrowers to gain access to funds within an hour of instruction.

It is aimed at speculative buyers and is available at 0.95% for LTVs up to 55%.

The maximum facility available is £700,000 and clients need to have minimum net assets of £500,000.

Gary Booth, chief executive at Tiuta, says: “The current property market is offering Below Market Value transactions, for which traditional lenders are sadly no longer able to supply lending facilities in the timescales that purchasers require.

“Suspension Bridge allows investors to shop around for refinancing offers without having to take the first terms, which can often be uncompetitive.”

He adds: “With finance proving difficult to come by, this should be a useful product for those looking to take advantage of buying opportunities in the market.”