Mortgage News
Tiuta boosts LTV levels to 70%
Tiuta has increased its LTV levels, based on an open market valuation (OMV), system for bridging loans for property investors.
The specialist lender has raised the LTV levels on bridging loans available to limited companies to 70% LTV from 60% and enhanced LTV levels on mixed residential and commercial borrowing to 60% LTV from 50.
Tiuta has increased the LTV from 55% to 60% on its facility for Houses in Multiple Occupation and boosted its land with planning LTVs up to 60%.
“With lending criteria remaining strict in the specialist markets a number of successful entrepreneurs continue to be ostracized,” said George Patellis, CEO at Tiuta.
“This has led us to revisit our LTV levels and adjust them accordingly. Of course we have to balance risk with any enhancements made but as an FSA regulated entity this is something that we take very seriously.”
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