Bridging lender Tiuta PLC has unveiled a new ‘cashback incentive’.
Brokers and introducers will be rewarded when their clients’ loans are redeemed.
They will receive a fixed amount of cashback each time one of their clients’ completed loans with Tiuta is redeemed. For loans up to and including £750,000 the cashback amount is £250 for loans above £750,000 the cashback is £500.
The short-term lender says that with this level of cashback offered the commission received by a broker or introducer from Tiuta for each individual deal could increase by as much as 35-50% per deal.
Tiuta has introduced the incentive to reward brokers throughout the lifespan of the loan, with the fixed amount only being paid when the loan is repaid in full.
Steven Nicholas , CEO at Tiuta, said: “As part of our ongoing broker initiatives we have introduced the cashback incentive which allows those introducing business to Tiuta to benefit when a loan is redeemed.