The move marks a first for the trade body and Tiuta’s said it is a show of its commitment to the intermediary sector as one of the regulated short term finance providers operating in the marketplace.
“We fully recognise the weight, experience and vast knowledge AMI carries within the intermediary market and we hope to work closely together to try to spearhead a campaign to educate brokers in the benefits of short term finance, says George Patellis, CEO at Tiuta.
He said he recognised standards need to be raised and intermediaries should be asking greater questions of short-term lenders.
“It stands to reason that intermediaries placing business within these niche sectors should be looking towards regulated firms rather than those sitting outside the FSA’s perimeter.”
Robert Sinclair, director of AMI, added: “The support of innovative and forward thinking specialist lenders such as Tiuta can only be of benefit to the intermediary community. It is refreshing and encouraging to see short term lenders embracing the regulatory culture and we look forward to developing closer links with the team at the Tiuta to see how we can work together to get some positive messages out to intermediaries.”
