In a significant move for the specialist property finance sector, TAB has joined the TMA Mortgage Club lending panel, enabling its members to access a wider array of bridging finance products. This partnership is particularly beneficial for property investors and brokers, as it enhances the financing options available for residential, semi-commercial, and commercial mortgages.
What types of bridging finance does TAB offer?
TAB provides a comprehensive range of bridging finance solutions, catering to various property needs. Their offerings include loans from £100,000 to £5 million, with terms extending up to 24 months. The interest rates start at a competitive 0.68% per month, making it an attractive option for those seeking quick and flexible funding solutions.
How does this affect TMA Mortgage Club members?
The addition of TAB to the TMA Mortgage Club lending panel significantly enhances the options available to brokers affiliated with the club. Members can now access TAB’s diverse range of products, which include residential, semi-commercial, and commercial mortgages, as well as bridging loans. This expansion is expected to provide brokers with greater confidence in securing finance for their clients, especially in fluctuating market conditions.
What does this mean for property investors?
For property investors, the new partnership between TAB and TMA Mortgage Club presents an opportunity to secure financing for a variety of projects. With loan-to-value ratios of up to 75% on residential properties and 70% on commercial assets, investors can use TAB’s products to fund their acquisitions or developments. The ability to access loans on an interest-only basis further enhances flexibility, allowing investors to manage cash flow more effectively.
Frequently asked questions
What are the benefits of bridging finance?
Bridging finance offers quick access to funds, making it ideal for property purchases that require fast completion. It can be used for various purposes, including buying at auction, funding renovations, or managing cash flow during property transactions.
How can I apply for a bridging loan with TAB?
To apply for a bridging loan with TAB, brokers can connect through the TMA Mortgage Club platform. They will need to assess the specific needs of their clients and submit the necessary documentation to facilitate the loan application process.