The move marks a first for the trade body and signifies Tiuta’s commitment to the intermediary sector as one of the few regulated short term finance providers operating in the marketplace.
George Patellis, CEO at Tiuta, commented: “We fully recognise the weight, experience and vast knowledge AMI carries within the intermediary market and we hope to work closely together to try to spearhead a campaign to educate brokers in the benefits of short term finance.
“We recognise that there is a lingering perception of this market that we, as a sector, need to try and change.
“As a regulated entity we believe that standards need to be raised and intermediaries should be asking greater questions in regards to providers operating in this area of the market.
“It stands to reason that intermediaries placing business within these niche sectors should be looking towards regulated firms rather than those sitting outside the FSA’s perimeter.”
Robert Sinclair, director of AMI, added: “The support of innovative and forward thinking specialist lenders such Tiuta can only be of benefit to the intermediary community.
“It is refreshing and encouraging to see short term lenders embracing the regulatory culture and we look forward to developing closer links with the team at the Tiuta to see how we can work together to get some positive messages out to intermediaries.”
