Bridging loan provider Tiuta has completed a loan in under eight hours.
The client, Mr Raj, was in grave danger of losing a substantial deposit and related fees. He had recently exchanged on a plot of land with approved planning permission but due to a series of events funds did not materialise which resulted in the vendor putting the client on a strict notice period to complete. The deal had nine hours in which to complete or the client faced a potential loss of a deposit and fees amounting to over £400,000.
Gary Booth , Tiuta’s CEO, said: “An eight hour transaction isn’t something that happens everyday nor would we recommend that our clients leave things quite that late but it does illustrate how fleet of foot and nimble a good