In a significant move for the bridging finance sector, TAB has joined the lending panel of TMA Mortgage Club. This partnership allows TMA members to access a wider range of TAB’s specialist property finance products, including residential, semi-commercial, and commercial mortgages, as well as bridging loans. With TAB’s offerings, brokers can now provide their clients with more tailored financing solutions.
What types of bridging finance products does TAB offer?
TAB provides a comprehensive selection of property finance products tailored for various investor needs. This includes residential mortgages starting at 3.50% plus the Bank of England base rate, with loans available from £100,000 to £5 million on an interest-only basis. For commercial properties, TAB offers loans with a maximum loan-to-value (LTV) ratio of 70%. Additionally, TAB’s bridging finance options allow loans from £100,000 to £5 million, with terms extending up to 24 months and rates beginning at 0.68% per month.
Why is this partnership important for brokers in bridging finance?
The inclusion of TAB in TMA Mortgage Club’s lending panel significantly broadens the financing options available to brokers. This is particularly beneficial as flexibility and diverse product offerings are essential for meeting client needs. TMA Mortgage Club has highlighted that this addition enhances the choices for its broker members, allowing them to cater to a wider array of client circumstances and investment strategies.
What this means for property investors using bridging finance
For property investors, the partnership between TAB and TMA Mortgage Club translates into increased access to competitive financing solutions. With TAB’s ability to lend £759 million since its inception in 2018, and the recent £500 million facility secured from CarVal, investors can have greater confidence in TAB’s capacity to deliver funding even in fluctuating market conditions. This is particularly relevant for those looking to use bridging finance for quick acquisitions or to fund property renovations.
Frequently asked questions
What are the benefits of using bridging finance?
Bridging finance offers quick access to funds, making it ideal for property purchases that require immediate financing. It can be used for various purposes, including buying properties at auction, financing renovations, or bridging gaps between selling one property and buying another.
How does TAB’s bridging finance compare to other lenders?
TAB’s bridging finance products offer competitive rates starting at 0.68% per month, along with flexible terms of up to 24 months. This positions TAB as a strong option for brokers and investors seeking efficient and accessible bridging solutions.