What's New

Tiuta has reduced its closed bridge rates by 0.5% and slashed the cost of upfront legal fees.

In addition to Tiuta’s recent decision to increase its LTV levels across a number of bridging product areas, based on an open market valuation, the specialist lender has subsequently cut the rates on its closed bridge offering from 1.5% per calendar month to 1% per calendar month. Tiuta has also lowered its up front legal fees from £850 to £495.

A closed bridge is a loan available to homebuyers where the contract for sale has been completed but there is a delay between the receipt of funds and the settlement to purchase the new property.

Tiuta has vast experience in working with a wide variety of borrowers from once in a lifetime bridging borrowers to the experienced multi-transactional property companies. 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, CEO at Tiuta, commented: “During continued challenging times we believe that clients need all the help they can to ensure that they are able to get, or keep, their feet on the property ladder which is why we have reduced rates and cut legal fees. We are working hard to make ourselves a brand that intermediaries trust and to ensure that their clients can benefit from greater flexibility and access to enhanced borrowing requirements when many lenders are simply closing the door on far too many good quality applicants. We are looking forward to building on some very solid foundations by continuing to innovate and have a number of exciting plans in the pipeline for the rest of the year and beyond.”


To find out more about Tiuta’s products and services, brokers can telephone the helpdesk on: 0870 777 7205 or for further information visit www.tiutaplc.com.

George Patellis, CEO at Tiuta, outlines how bridge-to-let allows landlords the time and confidence to refurbish a property backed by the guarantee of a competitive fixed rate BTL at the end of the project.

There is no getting away from the fact that in most quarters lending criteria remains strict and funding lines difficult to come by. Combined with some lingering concerns over the stability of house prices and fears of a double dip recession, it’s evident that the market continues to challenge across all sectors. However, within such a challenging environment there are always opportunities to be nurtured and developed. It’s clear that the buy-to-let market continues to develop in a slow and progressive manner but landlords are still experiencing extreme difficulty arranging buy-to-let finance. Despite this the lure of a property bargain continues to prove a strong draw for a number of developers, investors and landlords. This is especially apparent for those with an eye for properties in need of renovation to which they can add resale or rental value. A rise in the popularity of the property auction process continues to illustrate this demand but while access to bridging finance is readily available for such refurbishment projects what they often don’t have access to is a guaranteed exit route. This is why we, at Tiuta, have recently launched a bridge-to-let scheme which caters specifically for this type of property investment. This works to give landlords, developers and investors the security of a guaranteed buy-to-let mortgage after completion of the works.

The bridge-to-let scheme allows clients, who wish to refurbish a property with a guaranteed exit after six months, the ability to borrow up to 75 per cent of the open market value (OMV). However, should the applicants be in a position to secure the property purchase at below market value, Tiuta will still fund at 75% of OMV, regardless of purchase price, subject to a maximum of 100% of the discounted purchase price. Following the scheduled refurbishment of the property, which can range from minor cosmetic work through to major refurbishment – applicants will then be offered up to 75% of the refurbished value on a two-year fixed rate BTL deal at 6.99%. For the right investor, this product enables a time and cost effective solution for portfolio development and leaves the minimum amount of capital tied up at the end of the term.

The bridge-to-let facility is also available for investors who may have suffered minor credit impairments. Tiuta does not believe minor impairments experienced during such a severe market downturn should leave these otherwise successful entrepreneurs ostracised from the market as has been the case by much of the lending community.

As an intermediary only product bridge-to-let has been carefully thought out and we are delighted how well this has been received by brokers. Controlled distribution and choosing the right strategic partnerships are vital components in the current financial environment and we firmly believe this route to market is the right one for such a niche product and is one that will continue to best serve the intermediary marketplace. As such a number of specialist distributors such as Savills Lending Solutions (SLS), PFC Mortgages, Pavilion Securities, Solent Mortgage Services and TBMC have partnered with Tiuta to offer the facility.

Innovation remains the key driver in the specialist market but as we all know this has to be balanced by a sensible attitude to risk. As one of the few regulated entities operating within the short term finance sector we believe that standards need to be raised and we will continue to work hard in order to do so. Hopefully more innovative lenders with robust funding lines will emerge over the second half of 2010 to help drive this sector and offer landlords even more opportunities to cope with growing rental demand that is evident within the marketplace.

For further information regarding the bridge-to-let product please contact on our specialist distributor partners - Savills Lending Solutions (SLS), PFC Mortgages, Pavilion Securities, Solent Mortgage Services and TBMC.

Tiuta has teamed up with Mortgage Strategy to offer brokers the chance to win a donation of £100 to aid the Great Ormond Street Hospital Charity.Tiuta has pledged to donate £100 on behalf of each winner of the weekly Mortgage Strategy caption competition to the Great Ormond Street Hospital Charity. The winner will also receive a bottle of champagne.


Tiuta PLC is an established corporate partner of Great Ormond Street Hospital and continues to forge a close working relationship with the charity. The Mortgage Strategy caption competition is just one of the many activities and events that Tiuta will be undertaking during the course of the year in order to boost the coffers of this deserving cause.


Great Ormond Street Hospital is the UK’s leading centre for specialist paediatric care and research. Every year the hospital carries out well over 200,000 patient visits; almost half of the children it cares for are under three years old and most of them require intensive care. In many cases Great Ormond Street Hospital is the last hope.


George Patellis, CEO at Tiuta, commented: “Great Ormond Street Hospital is a charity close to many of our hearts here at Tiuta and we’re delighted to have teamed up with Mortgage Strategy to offer our continued support to what is a great cause. Of course the competition remains a bit of fun but every penny counts when it comes to the welfare of children who are suffering.”


Richard Stewart, New Business Manager at Great Ormond Street Hospital Children’s Charity, said: “We are thrilled to welcome Tiuta on board as a partner and we look forward to supporting and sharing in their future success. Every year the charity needs to raise £50m to help maintain Great Ormond Street Hospital’s position at the forefront of paediatric care, and during these challenging times we are especially grateful to be raising funds with a forward thinking and motivated team.”

Tuita PLC has scooped the coveted Best Bridging Finance Provider at the prestigious Business Moneyfacts Awards for the second consecutive year. The Business Moneyfacts Awards gala dinner, in association with the NACFB, was held on Thursday 25th March at the London Marriott Hotel, Grosvenor Square in London. Rigorous product monitoring is carried out throughout the preceding year to determine the winners with the broker community also consulted for their feedback.


George Patellis, CEO at Tiuta, commented: “To be awarded the Best Bridging Finance Provider in a highly competitive field, is a great achievement in itself but to have won this for two consecutive years proves that we are doing something right and fills all the staff at Tiuta with great pride. This award acknowledges the continued focus we place on dealing with both our intermediary partners and our customers. 2010 is an exciting year for Tiuta as we have ambitious growth plans in the pipeline and we will certainly continue to work hard to try and replicate our success for next year as we aim for the hat-trick.”