Savills Lending Solutions (SLS), Manor Mortgages and Pavilion Securities have been selected and the three launch partners to distribute Tiuta’s new Bridge to Let product.
Clients will have the ability to borrow on 100% of the purchase price, or 75% of the open market value for clients who wish to refurbish a property with a guaranteed exit after six months. Subject to the necessary requirements, applicants will then have the ability to borrow 75% of the refurbished value on a two-year fixed rate buy-to-let 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 buy-to-let deal. Tiuta is an inventive and dynamic specialist lender and we are delighted to continue our long standing and highly successful relationship.””
