The recent addition of TAB to the TMA Mortgage Club lending panel marks a significant development in the bridging finance sector. This partnership allows TMA Mortgage Club members to access TAB’s diverse range of specialist property finance products, catering to various borrowing needs, including residential, semi-commercial, and commercial mortgages.
What types of products does TAB offer?
TAB provides a comprehensive suite of property finance solutions. Their offerings include residential, semi-commercial, and commercial mortgages, as well as bridging loans. For property investors, TAB’s mortgage rates start at 3.50% plus the Bank of England base rate, with loans ranging from £100,000 to £5 million available on an interest-only basis. The loan-to-value (LTV) ratios stand at up to 75% for residential assets and up to 70% for commercial properties.
How does TAB’s bridging finance work?
In addition to traditional mortgages, TAB’s bridging finance options provide flexibility for those needing quick access to funds. Loans are available from £100,000 to £5 million, with terms extending up to 24 months. The starting rate for these bridging loans is as low as 0.68% per month, making them an attractive option for investors looking to seize opportunities in the property market.
What this means for brokers and clients
This partnership significantly enhances the options available to brokers and their clients in the specialist property finance market. With TAB’s established track record of lending £759 million since its inception in 2018, and the recent £500 million facility secured from CarVal, brokers can feel more confident in TAB’s ability to deliver funding solutions under varying market conditions. This added assurance is important for clients seeking reliable financing options.
What should investors watch next?
Investors and brokers should keep an eye on how this partnership evolves and the impact it has on the bridging finance market. With TAB’s expanded funding options, there may be increased competition and potentially more favourable terms for borrowers. As the market continues to adapt, monitoring changes in rates, terms, and product offerings will be essential for making informed decisions.
Frequently asked questions
What is bridging finance?
Bridging finance is a short-term loan designed to bridge the gap between the purchase of a new property and the sale of an existing one. It is often used to secure quick funding for property transactions.
How can I access TAB’s products?
Brokers who are members of the TMA Mortgage Club can access TAB’s range of products, including mortgages and bridging finance, providing clients with tailored financing solutions.