High-end bridging loans from Tiuta
Short-term loan lender Tiuta has launched a product range after securing new funding.
The new range is aimed at the bridging loans sector and offers loans of between £1m and £25m for high-end development properties in central London and the southeast.
Rates start at 8 per cent and Tiuta will lend up to 70 per cent of the property’s cost for a 15-month term. It is also offering a streamlined underwriting process for the range.
Steven Nicholas, chief executive of Tiuta, said: “There are a number of new entrants who have come into the short and medium-term lending market recently, placing significant downward pressure on interest rates, which is clearly good for both the industry and the consumer.
“It was important for Tiuta and our customers that we responded to this competition and we have done this by concentrating on higher loan deals at cheaper interest rates.”