The other partners which will distribute for Tiuta are Manor Mortgages and Pavilion Securities.
The product offers clients the ability to borrow on 100% of the purchase price, or 75% of the open market value for clients who wish to refurbish a property with a guaranteed exit after six months.
Applicants – subject to the necessary requirements - will then have the ability to borrow 75% of the refurbished value on a two-year fixed rate BTL deal at 6.99%.
SLS director Rob Jupp said: “This is an innovative product that allows professional investors to fund schemes requiring refurbishment and then when this refurbishment has taken place allows them to transfer onto a competitive fixed rate BTL deal.
“Tiuta is an inventive and dynamic specialist lender and we are delighted to continue our long standing and highly successful relationship.”
Guy Garrard, head of business development at Tiuta, added: “This is an intermediary only product that has been carefully thought out and we believe will be well received by brokers.
"Controlled distribution and choosing the right strategic partnerships remains key and we believe this route to market will continue to best serve the intermediary marketplace.”
