Products

Bridging Loans

Tiuta offer various different bridging options dependent on security. 

1st Charge Residential Bridging 

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• Loan amount: From £30,000, no maximum loan size.
• Loan term: 1 day up to 1 year (Loan can not be extended beyond 12 months)
• Loan criteria: negotiable
• Loan assessed against open market value not purchase price

(in some cases we can lend up to 100% of the purchase price)

TAKE ADVANTAGE OF ENHANCED CRITERIA - RATES FROM 0.89% FOR PROPERTIES WITHIN THE M25.

 

2nd Charge Residential Bridging 

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• Loan amount: £30,000 up to £500,000
• Loan term: 1 day up to 1 year (Loan can not be extended beyond 12 months)
• Loan criteria: negotiable
• Loan assessed against open market value
• Maximum LTV 60%

Bridging loans are most often sought to cover a shortfall of cash that occurs when buying a property or funding residential improvements. This type of finance is also suitable against certain types of property that may not meet the standard criteria applied during a standard mortgage application.

Each loan granted will normally be secured against the equity in the property, and can be approved far more quickly than a mortgage, enabling bridging loans to be secured against time sensitive auction properties, with completion often taking place within 24 hours.

With two common forms available – First Charge and Second Charge bridging loans, Tiuta can offer you a bespoke financial solution that meets your needs exactly.

First Charge loans are available for properties with no existing mortgage on them, and will normally offer a higher LTV (Loan To Value) ratio, in some cases up to 100% of the purchase price.

Second Charge loans are often used to unlock equity from a main residence or primary property, allowing the first charge mortgage or loan to remain on the property, with the second charge being used to release any existing equity. Loans of this type will usually be of a reduced LTV (maximum  60%), but can prove to be advantageous if unlocking the equity in a property, you can keep your existing mortgage and avoid early repayment costs and only pay higher interest on the smaller amount of released equity, rather than refinancing for the full amount.

Tiuta specialise in offering completely bespoke First and Second Charge solutions, we look at each case and talk to you about your short term finance requirements. Choose Tiuta and you’ll find there are many advantages over our competitors - we can provide bridging loans for as short a term as one day, and starting from just £30,000.

Enquire through our site, or call us now on 0870 777 7205 to find out how Tiuta can help you.