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SLS to distribute Tiuta bridge-to-let deal

by: Mortgage Solutions
  • 07/06/2010
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Savills Lending Solutions (SLS) has been chosen as one of three distribution partners of Tiuta’s new intermediary-only bridge-to-let product.

Alongside Manor Mortgages and Pavilion Securities, SLS will offer customers the ability to borrow on 100% of the purchase price.

Clients wanting to refurbish a property with a guaranteed exit after six months can borrow 75% of the open market value. Subject to requirements, they can then borrow 75% of the refurbished value on a two-year fixed rate buy-to-let deal at 6.99%.

Rob Jupp, director of SLS, 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.”

Guy Garrard, head of business development at Tiuta, added: “Controlled distribution and choosing the right strategic partnerships remain key and we believe this route to market will continue to best serve the intermediary marketplace.”

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