For loans up to and including £750,000 the cashback is £250. For loans above £750,000 the cashback is £500.
With this level of cashback offered the commission received by a broker or introducer from Tiuta for each individual deal could increase by as much as 35-50% per deal, according to the company.
Steven Nicholas, chief executive officer at Tiuta, said: “As part of our ongoing broker initiatives we have introduced the cashback incentive which allows those introducing business to Tiuta to benefit when a loan is redeemed.
“Brokers’ relationships with their clients do not end when the loan completes and therefore we wanted to reward the broker for the ongoing work and service they provide the client with, up until the point of redemption.
“We always work on the basis that, the quicker the loan is repaid, the quicker we are able to use that money to fund further deals. Brokers and introducers are often instrumental in the redemption of their client’s loan and therefore it makes sense to reward at this point in time.
“We believe this incentive will also help develop closer broker/client ties which will help deliver ongoing benefits to each and help build future referrals.”
