Only one bridger places in list of UK's top lenders

Only one bridger places in list of UK's top lenders


Tiuta PLC has been placed in the Top 30 list for gross mortgage lending in UK in 2010.


The figures, released by the Council of Mortgage Lenders, show the London-based short term lender to be placed joint 21st on the list with a number of others and have 0.1 percent of the market share.


This placing is an improvement on the previous year, where they were 23rd on the list. Tiuta have the accolade of being the sole bridging lender on the list and have achieved this through reaching £0.1 billion of gross lending.


This news comes as a further boost to them, after reported strong lending levels over the past few months – this is put down to their decision to work solely on the bridging loan market.


Steven Nicholas, CEO of Tiuta, said: “It is particularly pleasing to see Tiuta once again in the top 30 UK lenders in terms of gross lending and to have improved on our performance from 2009.  To be the only bridging loan specialist out of all those lenders also shows the levels of finance we are offering and our unique status within our own sector.”


The CML publishes two lists of lenders by relative size. The first is based on the level of lending that each lender undertook during the year. The second is based on the overall value of mortgages held with each lender, irrespective of when they were taken out.


Particularly since the financial crisis, there has been a significant difference between the two lists. This is because some lenders which were previously active have stopped doing any new lending or are undertaking a lower volume of lending, while other lenders which were relatively active in 2010 (albeit in a very subdued market) do not necessarily have such a significant back book of existing business.


Steven Nicholas added: “We are committed to the bridging market and will be looking to maintain our position within the Top 30 for 2011 and beyond.  Certainly, the Spring and Summer months have seen record levels of business for us and all signs are that this will continue as we move towards the end of the year.


“Demand for our products and finance have never been greater and we are building new relationships all the time through our enhanced business development team. We would urge any broker or introducer who is seeking short-term finance for their clients to contact Tiuta to see how we can provide the help and support they need.”

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