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Tiuta lowers bridging rates and legal costs
24 August 2010
Tiuta has reduced its closed bridge rates to 1% from 1.5% and cut the cost of upfront legal fees from £850 to £495. A closed bridge is a homebuyer loan for completed sales with a delay between the receipt of funds and the settlement to purchase the new property. On 9 August, Tiuta increased its LTV levels based on an open market valuation across the range. "During continued challenging times we believe that clients need all the help they can to ensure that they are able to get, or keep, their feet on the property ladder which is why we have reduced rates and cut legal fees," said George Patellis, CEO at Tiuta. "We are looking forward to building on some very solid foundations by continuing to innovate and have a number of exciting plans in the pipeline for the rest of the year and beyond." Published by Mortgage Solutions
