Bridging lender to launch 0.67% interest rate

Bridging lender to launch 0.67% interest rate



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A well known bridging lender has confirmed that it has secured a cheaper funding line from an investment and will be launching new products imminently.

Tiuta, which has been the subject of press speculation in recent weeks, has announced that it will now be able to offer interest rates from as little as 0.67 per cent. The new funding line also means Tiuta has the facility to lend up to £25 million on any single transaction.

Securing this funding line continues the lender’s recent efficiency drive, and, Tiuta says, offers it renewed opportunities to grow its platform and contact base.

Commenting on the news, Steven Nicholas, Chairman of Tiuta, told B&C: “We are over the moon at this latest achievement. There are a number of new entrants who have come into the short and medium term lending market and there is now pressure on interest rates to come down, which is good for both the industry and the consumer.

“We have found over the past few months that competition for the same deal has become greater now that there are more lenders offering discounted rates. By concentrating on higher loan deals at cheaper interest rates, we hope to enter into a completely new niche market.

“Brokers should be advised that our e-shots on the products will be circulated imminently.”
 

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