In a significant development for property finance, TAB has joined the TMA Mortgage Club lending panel, allowing members access to a wider range of specialist property finance products. This partnership enhances options for brokers and their clients, particularly in the bridging finance sector, where TAB offers competitive rates and flexible terms.
TL;DR: TMA Mortgage Club members can now access TAB’s specialist property finance products, including bridging loans from £100,000 to £5 million with rates starting at 0.68% per month; this expansion broadens financing options for brokers and their clients.
What Types of Bridging Finance Does TAB Offer?
TAB provides a robust selection of bridging finance solutions, catering to various property needs. Loans range from £100,000 to £5 million, with terms extending up to 24 months. The starting rate for these loans is an attractive 0.68% per month, making TAB a competitive player in the bridging finance market. This offering is particularly appealing for property investors looking for quick access to funds to seize opportunities in the market.
How Does This Partnership Benefit Brokers?
The inclusion of TAB in the TMA Mortgage Club lending panel significantly enhances the options available to brokers. With TAB’s track record of lending £759 million since its inception in 2018, brokers can feel confident in presenting these products to their clients. The ability to access loans with up to 75% loan-to-value (LTV) on residential properties and 70% on commercial properties can help brokers secure financing solutions that meet diverse client needs.
What This Means for Property Investors
For property investors, the partnership between TAB and TMA Mortgage Club translates to increased access to specialist finance products. Investors can now explore various mortgage options, including residential, semi-commercial, and commercial mortgages, alongside bridging loans. With rates starting from 3.50% plus the Bank of England base rate, the financing market is becoming more accessible, allowing investors to act swiftly on opportunities. The flexibility of interest-only loans further enhances the appeal for those looking to optimise cash flow.
What Should Borrowers Watch Next?
Borrowers should keep an eye on the evolving offerings from TAB and other lenders within the TMA Mortgage Club. As the market adapts to changing conditions, new products and competitive rates may emerge, providing additional opportunities for financing. Staying informed about these changes will be important for making well-timed investment decisions.
Frequently asked questions
What is bridging finance?
Bridging finance is a short-term loan used to bridge the gap between purchasing a new property and selling an existing one, or to fund property renovations quickly.
Who can benefit from TAB’s bridging loans?
Property investors, landlords, and brokers can benefit from TAB’s bridging loans, which offer flexible terms and competitive rates for various property financing needs.