TAB has joined the TMA Mortgage Club lending panel, significantly enhancing the range of bridging finance options available to its members. This partnership allows TMA brokers to offer TAB’s diverse property finance products, which include residential, semi-commercial, and commercial mortgages, along with bridging loans. The move is expected to provide greater flexibility and choice for borrowers and investors in the property market.
What types of bridging finance does TAB offer?
TAB provides a comprehensive suite of bridging finance options. Their bridging loans range from £100,000 to £5 million, with terms extending up to 24 months. Rates start at an attractive 0.68% per month, making it a competitive choice for those needing quick access to funds. This flexibility is particularly beneficial for property investors looking to secure funding swiftly for new acquisitions or renovations.
How does this partnership impact TMA Mortgage Club members?
The addition of TAB to the TMA Mortgage Club lending panel broadens the financing options available to brokers and their clients. TMA Mortgage Club members can now offer a wider array of specialist property finance products, which is important in a market that demands diverse solutions. With TAB’s expertise in property finance, brokers can confidently cater to various client needs, from residential to commercial investments.
What this means for property investors and landlords
For property investors and landlords, the collaboration between TAB and TMA Mortgage Club is a significant development. Access to TAB’s range of products means investors can secure funding more efficiently, which is vital in a fast-paced property market. With loan-to-value ratios of up to 75% for residential properties and 70% for commercial assets, this partnership enhances the ability of investors to use their portfolios effectively. Additionally, TAB’s history of lending £759 million since its inception in 2018, backed by a £500 million facility from CarVal, instills confidence in its financial stability and commitment to meeting market demands.
Frequently asked questions
What are the benefits of using bridging finance?
Bridging finance provides quick access to funds, which is ideal for property investors needing to act fast on opportunities. It can be used for various purposes, including purchasing properties at auction, refurbishing, or refinancing existing loans.
How can I apply for a bridging loan through TMA Mortgage Club?
To apply for a bridging loan through TMA Mortgage Club, you should contact a registered broker who can guide you through the application process and help you find the best product to suit your needs.