The changes are across a number of bridging product areas and allow investors, landlords and property developers greater flexibility and access to enhanced borrowing requirements.
Tiuta has also enhanced LTV levels on mixed residential and commercial borrowing to 60% LTV from 50%; increased the LTV from 55% to 60% - with a demonstrated exit - on its facility for Houses in Multiple Occupation and boosted its land with planning LTV’s up to 60%.
Tiuta said it will work closely with brokers to ensure their clients speak directly to a decision maker, with the ability to see the bigger picture and understand the potential of such a proposition.
George Patellis, chief executive at Tiuta, said: “With lending criteria remaining strict in the specialist markets a number of successful entrepreneurs continue to be ostracised. This has led us to revisit our LTV levels and adjust them accordingly.
“With demand rising for a variety of short term financial solutions it is important that we listen to our clients and the intermediary market to see what we can do to help support this important element of the industry. Of course we have to balance risk with any enhancements made but as an FSA regulated entity this is something that we take very seriously.
“We hope that by increasing our LTV levels intermediaries will be able to offer their clients even more suitable products whilst opening up a valuable additional revenue stream for themselves.”
