Real estate finance and investment business TAB has launched a long-term lending service extending to all stages of a property’s life cycle
TAB Series is designed for borrowers who require funding throughout the entire lifecycle of a property, not just at mortgage/purchase stage.
The comprehensive lending package offers customers an initial bridging loan for asset purchase, a refurbishment loan if required, and later, a long-term commercial mortgage.
TAB, which recently completed a private securitisation facility with NatWest and Atalaya Capital Management for £300m, is also transitioning to Open Market Value for residential bridging loans for up to £2.5m.
It previously used 180 day valuations, and the change will increase TAB’s ability to serve the market. This will be coupled with reduced rates across its residential bridging finance product range, which it claims will provide more value and savings for brokers and their clients.
TAB Series offers loans of up to £7.5m providing borrowers with the opportunity to work with a single lender and benefit from savings of 2.75% on fees, and reduced costs on legal expenses and valuations.
TAB chief executive and founder Duncan Kreeger says: “I am happy to introduce TAB Series to the market, our latest innovation designed to meet the needs of borrowers grappling with a changing interest rate environment.
“… This tailored solution addresses a significant gap in the market, promising seamless support for borrowers at every stage of their property journey.
“Prioritising their needs from acquisition to management to disposal coupled with the other changes we have announced today, empowers borrowers to capitalise on opportunities that may not have otherwise been affordable.”
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