Bridging loan provider Tiuta PLC has extended the maximum loan size on its first charge residential bridging product to £10 million.
It says this move should highlight its commitment to the intermediary market.
The change follows Tiuta’s extension of its LTV for loans of up to £500,000 to 75% based on open market value and not purchase price.
The specialist lender is also close to announcing the launch of several new intermediary mortgage products in the near future, it says.
Guy Garrard , head of business development at Tiuta, said: “Through a combination of sound financial backing and sheer hard work we have steadfastly remained active in the intermediary market for the past couple of years and we wish to reinforce the message that we are not going anywhere and if anything Tiuta is going from strength to strength. There is no question that it has all been plain sailing as we have all been affected in some way by the economic conditions. However