The product follows Tiuta’s recent launch of a three-year buy-to-let fixed rate deal for Houses in Multiple Occupation (HMO) in September and a secured loans proposition in June.
While the exact details of the product will be revealed at its formal opening this week at the Mortgage Business Expo in London, the lender revealed that the product will only be available through Savills Lending Solutions and the Omega Group.
Guy Garrard, head of business development at Tiuta, said it extended its focus to the mainstream market because it wanted to give brokers more access to products.
He added: “We also believe the time is right for launching into the mainstream market because the mortgage market has hit the bottom and is rising. We are confident in our ability to move and remain in the mainstream arena as we are adequately funded.”
Wayne Unsworth, independent financial adviser at Hallmark IFA, said the move was a sign that innovation was returning to the market.
He added: “It is a positive sign and a further signal that the worst is behind us. From a broker point of view, I always welcome a new entrant. It will also be interesting to see the tweaks on their product considering their bridging background.”
