Tiuta launches HMO fixed rate deal

Following its recent diversification into the secured loan arena, Tiuta has developed a three-year 8.99% fixed rate facility available at up to 70% LTV for both purchases and remortgages of HMO properties.

The product will be accessible to both individuals and limited companies and is exclusively available through Commercial Processing UK, the joint venture of Omega and Commercial mortgage Solutions.

Guy Garrard, head of business development at Tiuta PLC said: “These are exciting times for Tiuta. Following our increase in bridging LTVs and subsequent launch into secured loans, we are now able to offer facilities not only to potential purchasers of HMOs but critically to existing owners who have found themselves disenfranchised by the dearth of remortgage funding. This type of funding almost dried up completely and we are delighted to be in a position to offer professional investors and brokers the opportunity to take advantage of the regeneration of this sector.”