Tiuta is today introducing an incentive for brokers that will see them receive cashback when their clients’ loans are redeemed.
The lender is offering introducers £250 cashback for loans up to £750,000, and £500 cashback for loans above £750,000.
The fixed amount is only paid when the loan is repaid in full.
Steven Nicholas, chief executive officer at Tiuta, says: “Brokers’ relationships with their clients do not end when the loan completes and therefore we wanted to reward the broker for the ongoing work and service they provide the client with, up until the point of redemption.
“We always work on the basis that, the quicker the loan is repaid, the quicker we are able to use that money to fund further deals. Brokers and introducers are often instrumental in the redemption of their client’s loan and therefore it makes sense to reward at this point in time.”