The TMA Mortgage Club has expanded its lending panel by adding TAB, allowing members to access a broader range of specialist property finance products. This addition is significant for brokers and their clients, as it enhances the options available in the bridging finance sector and other mortgage categories.
What types of finance does TAB offer?
TAB provides a variety of financial products tailored for property investors. This includes residential, semi-commercial, and commercial mortgages, as well as bridging loans. The lender offers mortgages with interest rates starting from 3.50% plus the Bank of England base rate. Loans range from £100,000 to £5 million on an interest-only basis, with loan-to-value ratios reaching up to 75% for residential properties and 70% for commercial assets.
How does TAB’s bridging finance work?
For those needing quick access to funds, TAB’s bridging finance options are particularly appealing. They offer loans from £100,000 to £5 million, with terms extending up to 24 months. Interest rates for these bridging loans start from just 0.68% per month, making them a competitive choice for investors looking to secure property quickly.
What this means for brokers and investors
The inclusion of TAB in the TMA Mortgage Club’s lending panel is a strategic move that broadens the financing options for brokers. This is especially important in the current market, where property investors may require flexible and quick financing solutions. With TAB having lent £759 million since its inception in 2018 and having secured a £500 million facility from CarVal, brokers can feel more confident in the lender’s ability to deliver financing solutions, regardless of market fluctuations.
What should borrowers watch for next?
Borrowers and investors should keep an eye on how the introduction of TAB’s products affects the overall lending market. With more options available, it may lead to increased competition among lenders, potentially benefiting borrowers through better rates and terms. Additionally, as TAB continues to expand its funding options, it could further enhance its offerings in the bridging finance market.
Frequently asked questions
What are the benefits of using TAB’s bridging finance?
TAB’s bridging finance offers quick access to funds, competitive rates starting from 0.68% per month, and flexible terms of up to 24 months, making it ideal for property investors needing immediate financing.
How does the loan-to-value ratio affect my borrowing?
The loan-to-value (LTV) ratio determines how much you can borrow against the value of your property. TAB offers up to 75% LTV on residential properties and 70% on commercial properties, allowing for significant borrowing potential.