In a significant move for the property finance sector, TAB has joined the TMA Mortgage Club lending panel, allowing members to access a diverse range of specialist property finance products. This partnership is particularly relevant for brokers and their clients, as it enhances the availability of bridging finance and other mortgage options tailored to various property types.
TL;DR: TAB’s inclusion in the TMA Mortgage Club enables access to specialist property finance products, including bridging loans; this broadens choices for brokers and their clients in the UK market.
What types of finance does TAB offer?
TAB provides an extensive array of finance options, including residential, semi-commercial, and commercial mortgages, as well as bridging loans. For property investors, TAB’s mortgage rates begin at 3.50% plus the Bank of England base rate. They offer loans ranging from £100,000 to £5 million on an interest-only basis, with loan-to-value (LTV) ratios of up to 75% for residential properties and 70% for commercial assets.
How does TAB’s bridging finance work?
For those in need of quick financing solutions, TAB’s bridging finance products are particularly appealing. They provide loans from £100,000 to £5 million, with terms extending up to 24 months. The starting rates for these bridging loans are competitive, beginning at 0.68% per month, making them an attractive option for investors and property developers looking to secure quick funding.
What this means for brokers and their clients
The addition of TAB to the TMA Mortgage Club’s lending panel significantly enhances the options available to brokers. This is particularly important in a market where flexibility and speed are often required. With TAB’s track record of lending £759 million since its inception in 2018, and the recent £500 million facility secured from CarVal, brokers can be assured of TAB’s capacity to meet client needs, regardless of market fluctuations. This partnership ultimately empowers brokers to offer a wider range of financing solutions to their clients, improving their competitive edge in the property finance market.
What should investors watch for next?
Investors and brokers should keep an eye on how the partnership between TAB and TMA evolves, particularly in terms of new product offerings and any changes to lending criteria. Given the current economic climate, monitoring interest rate movements and their impact on bridging finance will also be important. As TAB continues to expand its funding options, it may lead to more competitive rates and terms, which could benefit borrowers seeking flexible financing solutions.
Frequently asked questions
What types of properties can TAB finance?
TAB offers finance for a variety of property types, including residential, semi-commercial, and commercial properties, catering to a wide range of investor needs.
What are the terms for TAB’s bridging loans?
TAB’s bridging loans range from £100,000 to £5 million, with terms of up to 24 months and competitive rates starting at 0.68% per month.