Tiuta has improved the rate on its residential bridge product to 0.89% per calendar month.
The criteria improvement has been designed specifically for properties within the M25 area and is available on regulated and unregulated loans which are available to individuals and limited companies.
The residential bridging product is available at up to 70% LTV on an open market valuation (OMV) up to a maximum loan size of £650,000. Tiuta will also lend on properties over £650,000 at an LTV (OMV) of 50%. The maximum loan size on this 50% LTV (OMV) deal is £1 million.
Guy Garrard , head of business development at Tiuta, said: “As a progressive specialist lender it is important we build on our 2010 successes in the short-term arena and as such we have decided to enhance the criteria on an existing product with the specific aim of helping the London market.
