Savills Lending Solutions chosen to distribute new Bridge to Let Product

Savills Lending Solutions chosen to distribute new Bridge to Let Product



798_2022-05-03-11-01-31am.gif
.

Specialist distributor Savills Lending Solutions (SLS) has been chosen as one of the three launch partners to distribute short term lender Tiuta’s brand new Bridge to Let product. 

Along with Manor Mortgages and Pavilion Securities, SLS is now able to offer clients the ability to borrow on 100 per cent of the purchase price, or 75 per cent of the open market value for clients who wish to refurbish a property with a guaranteed exit after six months.

 

Applicants – subject to the necessary requirements – will then have the ability to borrow 75 per cent of the refurbished value on a two-year fixed rate BTL deal at 6.99%.

 

SLS Director Rob Jupp said: “This is an innovative product that allows professional investors to fund schemes requiring refurbishment and then when this refurbishment has taken place allows them to transfer onto a competitive fixed rate BTL deal. Tiuta is an inventive and dynamic specialist lender and we are delighted to continue our long standing and highly successful relationship.”

 

Guy Garrard, head of business development at Tiuta, added: “This is an intermediary only product that has been carefully thought out and we believe will be well received by brokers. Controlled distribution and choosing the right strategic partnerships remain key and we believe this route to market will continue to best serve the intermediary marketplace.”

 

Tiuta recently announced that almost of third of all business it received is now regulated business, which represents a six fold increase from the start of 2010.

 

After undertaking an extensive evaluation of all types of business received in 2010, Tuita saw a marked shift in demand for regulated products, with figures rising from 5% of overall business at the beginning of January 2010 to 30% of Tiuta’s current total book.

Leave a comment