Former Preferred Mortgages chief to head up Tiuta
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Former joint managing director of Preferred Mortgages George Patellis has been appointed as chief executive at specialist lender Tiuta.
Patellis was part of the team that moved Preferred Mortgages from under the wing of Barclays to the now defunct Lehman Brothers. He replaces former chief executive Gary Booth, who is taking leave from the mortgage industry.
Patellis, who was appointed as a special advisor to the board of Tiuta in August 2009, says: “Having now had the chance to work closely with the team at Tiuta to fully understand its business model and plans for the future I am really looking forward to the challenges ahead.”
Tiuta, a bridging loans lender, recently entered into the mainstream mortgage market with a buy-to-let loan through Savills Lending Solutions.
Tiuta chairman Stephen Nicholas says: “George’s appointment is just the latest piece in the jigsaw for us. We have been building a talented team here that will enable us to meet our growth targets in the coming years.”
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Readers' comments (1)
Rosaline Alake | 1 Nov 2010 2:02 pm
I am sure the buy to let Mortgage marget is not currently regulated hence.
I can see the same group of guys that created the original chaos in the Market and Economy due to thier Greed and insatiable want and search for profit and more money coming back into the same business again.
But this time in a smatter way and under the disguise of we are giving the people who need it more and have bad credit the opportunity to borrow.
Its not about helping those category of people or borowers to have better opportunities, its about taking advantage of them again. like we had before the crash of the property market, in the mean time some one gets away with the huge bonuses before it all goes bust again, and this time it wont be a regulated market again- Buy to let. How conveneint.
I would like to track the records of this organisations. Are thier products really fixed rates and for how long before it shoots up and out into the roof.
Lets watch the space then shall we.
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