What's New

Tiuta PLC, the short-term loan lender, has today (9^th January 2012) launched a brand new ‘cashback incentive’ which will reward all brokers and introducers when their clients’ loans are redeemed. 

Starting this month brokers and introducers 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 £750k the cashback amount is £250, for loans above £750k the cashback is £500.

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, commented:
“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.  Brokers’ relationships with their clients do not end when the loan completes and therefore we wanted to reward the broker for the ongoing work and service they provide the client with, up until the point of redemption.  We always work on the basis that, the quicker the loan is repaid, the quicker we are able to use that money to fund further deals.  Brokers and introducers are often instrumental in the redemption of their client’s loan and therefore it makes sense to reward at this point in time.  We believe this incentive will also help develop closer broker/client ties which will help deliver ongoing benefits to each and help build future referrals.”

Tiuta PLC, the short-term loan lender, has today (15^th December 2011) revealed it has secured £30 million of new funding for use during December 2011 and January 2012.

The specialist bridging lender has also secured a separate funding line with Baltic International Bank which offers an initial facility of several million pounds which will grow over the course of the next 12 months.

The two finance initiatives will be used to fund Tiuta’s core business proposition of bridging and short-term loans. 

Steven Nicholas, CEO at Tiuta, commented:

“We end this year and enter 2012 with some significant news in terms of Tiuta’s available funding capabilities and an important new relationship with Baltic International Bank.  The £30 million of new lending comes from our existing finance sources and we are therefore actively looking to fund a variety of new loans over the course of December and January.  Added to this is our new strategic partnership with Baltic International Bank which is providing a separate funding line, enabling us to generate and complete on further business.  The Baltic International Bank arrangement begins with finance availability of several million pounds however this is likely to grow as we develop the offering over the course of the year.  It is an exciting time for Tiuta and this news should send out the message to our introducers and brokers that we are extremely active in the marketplace, we have a strong appetite to lend and we are actively looking to help their clients secure the finance they need.”

Tiuta PLC, the short-term loan lender, has today (11^th October 2011) announced an evolution of its product range and is now able to offer finance for higher value, larger bridging loans.

The top 30 UK lender can now offer short-term finance to clients looking for a stand-alone bridging loan in the region of £2 million to £30 million. 

These loans are available for purchase, refinance or development properties and ideally would be situated within Central London or the Home Counties however Tiuta is able to look at each loan on an individual basis.

Product interest rates are available from 1.1% per month, with an arrangement fee of 1% and a broker/introducer procuration fee of 1%.

Steven Nicholas, CEO at Tiuta, commented:

“We have seen an increase in demand for larger loans from our broker and introducer partners and we felt it was important to react quickly with a product offering that meets their client’s needs.  Particularly in London and the South East these types of higher value loans are becoming more common and with our considerable funding lines and our experience we are able to work competitively in this marketplace.  While our preference is for this geographical area, we are always willing to look at each deal on its individual merits and we would urge those looking for such finance on behalf of their clients to contact Tiuta first to see how we can help.”

Tiuta PLC, the short-term loan lender, has today (3rd October 2011) announced the winner of its ‘Win a Mini’ competition, and revealed details of its competition for October which offers a four-day trip for two to New York.

The lucky winner of a brand new Mini, straight out of the showroom, was Paul McGonigle, Managing Director of Positive Lending.  During June all introducers of completed Tiuta deals were placed into a draw for a chance to win the car with Paul being the lucky individual picked out.   Paul came to Tiuta’s London offices to pick up his brand new ‘61’ registration Mini.

Tiuta has been overwhelmed by the industry interest and the success of the competition, so much so that it is now offering one lucky individual the chance to take a four-day break with a friend or partner to the bright lights, big city of New York.

The prize includes business-class flights to New York for two with Virgin Airlines, a three-night stay at a fabulous City hotel, and £1,000 spending money.

From the start of October through to Christmas all introducers and brokers of completed deals with Tiuta will be placed into a prize draw for a chance to win this trip to New York.  The more deals that complete, the more opportunities submitting individuals have to win; the winner will be informed on Christmas Eve.

Steven Nicholas, CEO at Tiuta, commented:

“We are pleased to be able to announce that Paul McGonigle of Positive Lending was the lucky winner of a brand new ’61’ registration Mini.  We have seen strong lending and redemption levels throughout the Summer and into September, with introducers and brokers responding to the quality of our overall offering.  We have been particularly pleased with the success of this competition and are delighted to be able to announce a new competition over the next few months where one lucky individual will be winning a fantastic trip for two to New York.”

Paul McGonigle, Managing Director of Positive Lending, said:

“The phone call came out of the blue.  I was outside the bank when Tiuta called to tell me the news.  The looks I got from passers-by due to the high-pitched squeal of delight I gave out was a sight to behold.  We have supported Tiuta for the last five years and during that time I have been delighted in the product innovation, service and reliability from everyone within the team.  Tiuta’s practical approach to problem solving has resulted in many completions between our brands.  The surprise bonus of winning this fantastic prize is the icing on the cake.  I look forward to continuing our close working relationship with the team for many years to come and I thank everyone at Tiuta for its amazing generosity.”

Gross mortgage lending figures for 2010 from the Council of Mortgage Lenders (CML) show that Tiuta PLC, the short-term lender, continues to be placed in the top 30 of all UK lenders.

Tiuta PLC is the only bridging lender to make the list and is placed 21st with £0.1 billion of lending and a 0.1% market share.  This is an improvement on its 2009 placing of 23rd.

The specialist lender has recently announced a series of strong monthly and quarterly lending levels throughout May, June and July following its decision to focus completely on the bridging loan market. 

It anticipates continued growth throughout the rest of 2011 and already has a strong pipeline of business given the increased demand for its loans.

Tiuta provides regular quarterly updates on its lending and redemption levels.

Steven Nicholas, CEO at Tiuta, commented:

“It is particularly pleasing to see Tiuta once again in the top 30 UK lenders in terms of gross lending and to have improved on our performance from 2009.  To be the only bridging loan specialist out of all those lenders also shows the levels of finance we are offering and our unique status within our own sector.  We are committed to the bridging market and will be looking to maintain our position within the Top 30 for 2011 and beyond.  Certainly the Spring and Summer months have seen record levels of business for us and all signs are that this will continue as we move towards the end of the year.  Demand for our products and finance have never been greater and we are building new relationships all the time through our enhanced business development team.  We would urge any broker or introducer who is seeking short-term finance for their clients to contact Tiuta to see how we can provide the help and support they need.”

Tiuta PLC, the short-term loan lender, has today (1st August 2011) announced the appointment of a second new Non-Executive Director.

Andrew Townsend will join the Board of Tiuta from today, subject to FSA approval.

Andrew, a qualified accountant by profession, has held a number of senior executive positions in the financial services industry including Managing Director of The Beacon Group which he co-founded in 2004.

Other companies where he has held executive director level positions include Southern Pacific Mortgages, First National and the Household Mortgage Corporation (HMC).  He has also worked at Abbey, Lehman Brothers and AXA Equity & Law.

Andrew is an experienced Non-Executive Director having provided consultancy services to various other organisations within and outside the financial services sector.

Andrew’s appointment follows that of Simon Engelsman to the Tiuta Board last month.

Steven Nicholas, CEO at Tiuta, commented:

“It is important for Tiuta that we continue to add depth and experience to our Board and therefore we are pleased to welcome Andrew’s appointment as our newest Non-Executive Director.  Andrew brings with him a wealth of experience from the mortgage and lending markets, and he has been instrumental in the growth and development of a number of significant financial services brands.  His financial nous and his experience as the head of some major players will add considerably to our business and we are therefore looking forward to him joining the Board and helping ensure that Tiuta continues to grow and develop throughout the rest of the year and into the future.”

Tiuta PLC, the short-term loan lender, has today (11th July 2011) announced it has continued its ongoing growth in lending levels with another strong month in June.

During June, the bridging loan specialist completed £16 million worth of loans and also brought in over £10 million in redemptions resulting in a record-breaking performance in quarter two 2011.  The redemption figure covers loans that have been redeemed by the borrowers allowing Tiuta to re-invest this money into new deals.

Tiuta plc is confident that both monthly and quarterly performance will also improve throughout the rest of 2011 and it has a large pipeline of business based on a strong level of demand for short-term finance products.

Tiuta says the recent improvement is down to a number of factors including a new business strategy and the recent appointments of new business development staff, Gareth Lewis and Kirsty Buchanan.

The lender has however voiced disappointment in the lack of appetite of the mainstream banks to lend; it has already voiced concern that there is no signs of improvement in the banks’ lending levels to small and medium-sized businesses in particular, with most banks also unwilling to provide funding through lenders such as Tiuta who could help many more firms if this was the case.

As part of its recent business restructuring, which including a decision to completely focus on the bridging loan sector, Tiuta will be providing regular quarterly updates on its lending and redemption levels.

Steven Nicholas, CEO at Tiuta, commented:

“June levels of lending and redemptions have followed the same pattern as May with a continued improvement in both, and the expectation that – given our pipeline of business – we will continue to show ongoing improvement in the months ahead.  Clearly, our restructure and review of the business is working and, in particular, there has been an immediate impact from both Gareth and Kirsty who have provided a fresh impetus to generating new business.  The fact that Gareth recently won a ‘BDM of the year’ award at a recent event shows the quality we now have working for Tiuta.

“The demand for our finance is very strong given the current economic environment and in particular the lack of lending being offered by the mainstream banks.  Many companies and entrepreneurs are actively seeking finance however there is still a distinct lack of appetite from the banks even at low-risk levels.  The banks have access to relatively low-cost funding and, even if they do not want to lend directly, they could be working with lenders like ourselves to utilise these funds which means we could pass on these lower costs to the customer.  This just isn’t happening and until it does, and the banks take responsibility in this market place, then we are unlikely to see any noticeable improvement in the overall economy.”

Tiuta PLC, the short-term loan lender, has today (30th June 2011) announced sponsorship of an event focusing on the offshore solutions currently available to property landlords and the variety of finance options that can be utilised when purchasing.

The event is being held in conjunction with property agents, Brian Lack & Company; offshore structuring specialists, Fortress Management Services; and Stonehouse Finance Ltd, providers of creative funding solutions for real estate purchase.

Presentations on the evening will focus on a number of areas including:
•    Tiuta’s funding solutions which can be structured for offshore companies including bridging/short-term finance, second charges and development funding.
•    Creative property finance and offshore mortgages.
•    Focused taxation solutions for landlords.

The event will be held on the evening of Thursday 7th July and will take place at Brian Lack & Company’s new offices in St. John’s Wood, 4-6 St. Ann’s Terrace, London, NW8 6PJ and will begin at 6pm.

If you would like to attend the event, please register you interest with Fatima.khan@brianlack.co.uk

Steven Nicholas, CEO at Tiuta, commented:

“There are a number of potential opportunities for property landlords in the offshore space however it is vitally important they have all the necessary facts and information with regard to moving ahead with any purchases.  As its focal point this event covers the taxation implications for landlords in purchasing offshore while Tiuta will be on hand to provide details on the variety of lending opportunities we can offer in this area.  The event will bring together a number of experienced practitioners who specialist in this marketplace and it therefore promises to be a highly worthwhile experience for all those who attend.  We are looking forward to sponsoring this event and to meeting a range of potential operators in this sector.”

Tiuta PLC, the short-term loan lender, has today (8th June 2011) announced it has achieved a record month in terms of the number of new deals completed.

During May, the bridging loan specialist completed 29% more deals than in April.  Tiuta has also announced that it fully expects the pipeline of business to be completed in June to comfortably surpass that of May both in terms of number of deals and the amount of money lent, which would maintain its record-breaking quarter two performance.  

The news follows Tiuta’s recent announcement of a shift in business priority focusing exclusively on the bridging loan market.  Tiuta also restructured its sales and lending operations during the early part of 2011, making a number of new appointments and introducing a number of internal changes.  

Management at Tiuta see the record number of deals it is now carrying out as evidence of the success those changes have brought and the fact the business is completely focused on the bridging loan sector. 

Steven Nicholas, CEO at Tiuta, commented:

“May has seen a significant rise in the number of deals completed representing a record month for the business.  When we conducted our review of the business and put in place our change in emphasis and structure, we expected a boost in activity but we have been blown away by the level of business we carried out in May.  Plus, the fact that June is already shaping up to beat last month seems to show that the changes we have made throughout Tiuta are bearing fruit much earlier than even we could have anticipated.  Those introducers, brokers, advisers and packagers involved in bridging know only too well that experience, product offering, service and appetite to lend count for a great deal; we believe Tiuta delivers on all counts. 

“For many trying to secure long-term finance in the wider economy, times are difficult which makes the loans that Tiuta is able to provide even more important.  Indeed they are absolutely vital to many; just recently, the provision of finance to a manufacturer in Yorkshire made the difference between the firm remaining open, and having time to secure long-term finance, and that business closing down.  25 jobs have been saved as a result so it is clear that with more mainstream lenders losing their appetite to lend, we as bridgers are helping many UK businesses.  The message should therefore be clear that Tiuta are very much active in the marketplace and we want to talk to all those who need our bridging and short-term finance loans.”

Mike Lawton, Mortgage Director at John Charcol, said:

“The recent changes at Tiuta have been refreshing and I am delighted to see Steven Nicholas driving the business forward with energy, enthusiasm and passion, coupled with his highly experienced team.

“Tiuta’s experience and knowledge of the property market is second to none, which allows them to make quick and sensible lending decisions. For experienced, quality brokers like ourselves, this service is vital.  As an example, I experienced this first hand with Tiuta in May and managed to agree in principle £5 million of lending within half an hour. 

“I would therefore strongly recommend Tiuta to the professional broker market.  Tiuta’s front door is always open to discuss cases face to face and construct a deal, or offer advice when needed.  They even help with the paperwork; if brokers haven’t tried them, they should.”

Tiuta PLC, the short-term loan lender, has today (3rd June 2011) announced the appointment of Simon Engelsman to its Board as a new Non-Executive Director.

Engelsman has been a qualified solicitor for over 27 years and is currently a consultant with the commercial law firm, Butcher Burns, which undertakes miscellaneous property, corporate and litigation work but also various specialist and niche areas of law.  Simon retired as an equity partner with Butcher Burns in March 2009 after spending 11 years with the firm.

Simon’s particular expertise lies in the area of secured lending with the emphasis on financial regulation and mortgage recovery; he also has considerable experience in personal and corporate insolvency.

He has a five-year association with Tiuta and has been employed part-time by the lender as its Legal Director for the last two years.  He joins the Board, subject to FSA approval, with immediate effect.

Simon is also an Associated Member of the Institute of Credit Management (MICM) where he participates in its secured lending group.   

Steven Nicholas, CEO at Tiuta, commented:

“Tiuta continues to add to the strength and depth of not just our management team but also our Executive Board.  Simon has had a long association with Tiuta and his wealth of legal knowledge and experience has been vital over the course of the last five years.  We are particularly pleased that Simon will now be joining the Board in a Non-Executive Director capacity as we feel he is a major ongoing asset to the business particularly as we move forward with our recently announced concentration on the professional bridging loan sector.  These are certainly exciting times for the business; we have already announced a number of new highly experienced and talented recruits and we fully expect to make further appointment announcements in the next few months.  These will be at both Board and team level as we add to the already considerable strength of the overall Tiuta proposition for all our stakeholders.”