Tiuta extends large loan funding line

By Bridging Loan Directory -

 

Tiuta PLC, the short-term loan lender, has today (9th February 2012) announced a significant extension of its large loan funding line.

The news follows a successful December and January during which Tiuta lent a £30 million tranche of funds specifically available for loans between £1 million and £30 million.

The large loan funding line has now been extended and doubled to £60 million for use over the next few months.

Following its decision to offer a specific large loan proposition Tiuta has seen a four-fold increase in enquiry levels for the product, with a particular focus on prime properties situated in Central London areas.

Steven Nicholas, CEO at Tiuta, commented:

“We secured the new £30 million large loan funding line at the start of December and within two months we have lent this facility out to the market.  We are now able to announce a doubling in the amount of funds available for larger loans, up to £60 million, and we fully expect this to be used given the increasing demand for bridging loans at the higher end of the market.  As always we are not an irresponsible, risk-taking lender; instead we continue to be interested only in lending on quality assets to quality borrowers at lower LTVs.  Our focus for large loans remains on London and the Home Counties however we are prepared to look at each case on an individual basis and will continue to do this.  Those brokers and introducers who have clients looking for larger loans, and are seeking to work with an operation with significant experience in this area, should certainly contact Tiuta to see how we can help them find the funding they need.”