New lender launches buy-to-let mortgage

Tiuta a lender more associated with short term lending has just branched out into buy-to-let lending by launching a 3 year fixed rate buy-to-let mortgage priced at 6.99%.

For those in negative equity the buy-to-let mortgage is available up to 85% of the original purchase price and up to 70% of the current open market value.

The maximum loan size is £2.5m and early redemption charges only apply in the first two years. There is 110% rent to interest (RTI) coverage at the charging rate and a 3% facility fee which can be added to the loan amount. The maximum number of loans available to any individual is negotiable.

Tiuta which has traditionally concentrated on bridging loans introduced a three-year buy-to-let fixed rate deal for Houses in Multiple Occupation (HMO) in September and a secured loans proposition in June this year.

Access to the product will be exclusively available through Tiuta's packaging partners Savills Lending Solutions and Omega/CPUK.

Ring 01424 205 373 or email to find out more on these products or to discuss other options.
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