The TMA Mortgage Club has welcomed TAB to its lending panel, significantly expanding the range of bridging finance options available to its members. This addition allows brokers to offer TAB’s diverse portfolio of specialist property finance products, which includes residential, semi-commercial, and commercial mortgages, alongside bridging loans.
TL;DR: TMA Mortgage Club members can now access TAB’s specialist property finance products, including bridging loans starting at 0.68% per month; this broadens options for brokers and their clients.
What types of loans does TAB offer?
TAB provides a variety of loans tailored for property investors. Their offerings include residential, semi-commercial, and commercial mortgages, with rates beginning at 3.50% plus the Bank of England base rate. Loans are available on an interest-only basis, ranging from £100,000 to £5 million. For residential properties, TAB allows loan-to-value (LTV) ratios of up to 75%, while commercial properties can have LTVs of up to 70%.
How does TAB’s bridging finance work?
The bridging finance options from TAB are particularly noteworthy, offering loans from £100,000 to £5 million with terms extending up to 24 months. Interest rates start at a competitive 0.68% per month, making it an attractive choice for those needing quick access to funds. This flexibility can be important for property investors looking to seize opportunities in a fast-moving market.
What this means for brokers and clients
The inclusion of TAB in the TMA Mortgage Club’s lending panel significantly enhances the resources available to brokers. With TAB having lent £759 million since its inception in 2018, and following a £500 million facility secured from CarVal, brokers can feel more confident in TAB’s capacity to deliver financing solutions even amid fluctuating market conditions. This expanded offering is likely to provide brokers with more options to meet the diverse needs of their clients, particularly in the specialist property finance sector.
Frequently asked questions
What are the benefits of using bridging finance?
Bridging finance offers quick access to funds, making it ideal for property investors needing to act fast on opportunities. It can be used for various purposes, including purchasing properties, refurbishments, or even paying off existing debts.
How can I access TAB’s products through TMA Mortgage Club?
Brokers who are members of TMA Mortgage Club can now access TAB’s range of products by contacting TAB directly or through their TMA Mortgage Club platform, ensuring they can offer clients competitive financing options.