From a standing start Tiuta has managed to complete on a loan in less than eight hours for a client in grave danger of losing a substantial deposit and related fees. The client had recently exchanged on a plot of land with approved planning permission but due to a series of unfortunate events funds did not materialise which resulted in the vendor putting the client on a strict notice period to complete. The deal had nine hours in which to complete or the client faced a potential loss of a deposit and fees amounting to over £400,000.
Given the strict timescales involved Tiuta was able to complete the loan within an eight hour period to ensure the client did not suffer any financial loss.
Gary Booth, CEO at Tiuta, commented: “An eight hour transaction isn’t something that happens everyday nor would we recommend that our clients leave things quite that late but it does illustrate how fleet of foot and nimble a good, professional short term lender can be.”
