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Savills and Tiuta launch 'Suspension Bridge'

Wednesday, 7 January 2009 12:00 AM

By Sarah Garrod

Short-term finance company Tiuta has joined forces with leading estate agent Savills Lending Solutions (SLS) to launch fast financing concept 'Suspension Bridge'.

Suspension Bridge', aimed at speculative buyers who are currently looking at a variety of purchasing options, is a pre-arranged bridging facility that can provide funds within an hour.

Gary Booth, chief executive at Tiuta, said: "The current property market is offering below market value transactions, which sadly traditional lenders are no longer able to supply lending facilities for, in the timescales that purchases require.

"Suspension Bridge, in conjunction with SLS allows buyers to have a pre agreed facility, that they can drawdown to fit their property investment strategy."

As it is aimed at professional investors with existing property Tiuta will offer Suspension Bridge at 0.95 per cent for loan-to-value (LTV) of 55 per cent and under.

Melanie Bien, director and spokesperson for Savills Lending Solutions, added: "With finance proving difficult to come by, the suspension bridge should be a useful product for those looking to take advantage of buying opportunities in the market."

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