The TMA Mortgage Club has expanded its lending panel by adding TAB, enhancing the range of bridging finance options available to its members. This addition is significant for brokers and their clients, as it introduces TAB’s diverse portfolio of specialist property finance products, including residential, semi-commercial, and commercial mortgages, alongside bridging loans.
TL;DR: TMA Mortgage Club members can now access TAB’s bridging finance options, which include loans from £100,000 to £5 million; this broadens the choices for brokers and their clients in the property finance market.
What Types of Bridging Finance Does TAB Offer?
TAB provides a comprehensive range of bridging finance solutions. Their offerings include loans from £100,000 to £5 million, with terms extending up to 24 months. Rates for these loans start at just 0.68% per month, making them an attractive option for property investors looking for quick financing solutions. This flexibility allows borrowers to bridge gaps in funding while they secure longer-term financing or complete property transactions.
How Does This Impact Property Investors?
The inclusion of TAB in the TMA Mortgage Club means property investors now have access to a wider array of financing options tailored to their needs. With TAB’s competitive rates starting from 3.50% plus the Bank of England base rate, investors can finance residential, semi-commercial, and commercial properties more effectively. The ability to secure loans on an interest-only basis with loan-to-value ratios of up to 75% for residential assets and 70% for commercial properties can significantly enhance investment strategies.
Why Is This Change Important for Brokers?
Brokers affiliated with TMA Mortgage Club can now offer their clients enhanced access to TAB’s specialist property finance products. This addition broadens the options available, allowing brokers to cater to a more diverse clientele, including those seeking bridging finance. With TAB having lent £759 million since its inception in 2018 and having secured a £500 million facility from CarVal, brokers can have increased confidence in TAB’s ability to deliver funding solutions, regardless of market conditions.
What This Means for TMA Mortgage Club Members
The addition of TAB to the TMA Mortgage Club lending panel is a significant development for its members. It not only increases the variety of bridging finance options available but also enhances the overall competitiveness of the market. Brokers can now provide clients with more tailored solutions, which can lead to faster transactions and improved satisfaction. This move reflects TMA’s commitment to supporting its members with robust and reliable lending options.
Frequently asked questions
What is bridging finance?
Bridging finance is a short-term loan used to bridge the gap between the purchase of a new property and the sale of an existing one. It is often used in property transactions to provide quick access to funds.
How can I access TAB’s bridging finance products?
Brokers who are members of the TMA Mortgage Club can access TAB’s bridging finance products, which include loans ranging from £100,000 to £5 million with competitive rates.