It has been launched in response to the need for immediate decisions to be available to buyers seeking to benefit from time sensitive purchases such as auction house and distressed sales, or a last minute requirement to restructure debts ahead of future refinancing.
Tiuta Direct enables FSA authorised brokers to receive an instant decision by way of an automated Approval in Principle. Brokers can choose to proceed the Approval in Principle to a full on-line Application, with all of the information uploading to a printable application form. The broker can also choose to pay the fees on-line, thereby prioritising their application and significantly speeding up the time for brokers and their clients.
Tiuta Direct offers brokers:
• Instant decisions
• Automated Approval-in-Principle download
• 100% on-line applications
• 24/7 on-line case tracking
• The ability to upload all documents directly to Tiuta
• Pay legal and survey fees online
• On payment of the survey fee, instruction of valuations within 1 business hour
• On payment of the legal fees, all legal correspondence emailed to solicitors
• On-line calculator
• Full on-line application details uploaded to a printable application form
Gary Booth, CEO at Tiuta, said: “Most brokers that are recommending bridging finance have clients with an immediate need, whether it’s to invest in a property purchase or restructure debts; as a consequence they can not afford to hang around. At Tiuta we have always offered a decision within an hour, and this will still apply for those loans that don’t meet the online facility, but for the majority that do, the broker can receive an immediate decision.
Anthony Roy from Risk-free, who designed the technology, said: “We have worked closely with Tiuta to design a system that will revolutionise the way brokers advise on bridging finance. We have strived to design a system that is intuitive, clear and quick to use; all key requirements when providing bridging loans.”
