The lender also expects the amount of business written in June to surpass May numbers in both volume and value.
The announcement follows Tiuta’s recent business decision to stop accepting regulated loan applications in order to focus exclusively on the bridging loan market.
Management at Tiuta claim the record number of deals being carried out is due to the business changes that were made during the early part of 2011.
Steven Nicholas, chief executive officer at Tiuta, said: “May has seen a significant rise in the number of deals completed representing a record month for the business. When we conducted our review of the business and put in place our change in emphasis and structure, we expected a boost in activity but we have been blown away by the level of business we carried out in May.
“Plus, the fact that June is already shaping up to beat last month seems to show that the changes we have made throughout Tiuta are bearing fruit much earlier than even we could have anticipated. Those introducers, brokers, advisers and packagers involved in bridging know only too well that experience, product offering, service and appetite to lend count for a great deal; we believe Tiuta delivers on all counts.”
Mike Lawton, mortgage director at John Charcol, added: “The recent changes at Tiuta have been refreshing and I am delighted to see Steven Nicholas driving the business forward with energy, enthusiasm and passion, coupled with his highly experienced team.
“Tiuta’s experience and knowledge of the property market is second to none, which allows them to make quick and sensible lending decisions. For experienced, quality brokers like ourselves, this service is vital. As an example, I experienced this first hand with Tiuta in May and managed to agree in principle £5 million of lending within half an hour.”
