In a significant development for property finance, TAB has joined the TMA Mortgage Club lending panel, allowing members to access a diverse array of TAB’s specialist property finance products. This partnership is particularly relevant for brokers and property investors seeking tailored financial solutions, as it enhances the options available in the bridging finance sector.
TL;DR: TAB’s inclusion in the TMA Mortgage Club expands access to its specialist property finance products, including bridging loans; this offers brokers and their clients more choices in financing residential and commercial investments.
What types of finance does TAB offer?
TAB provides a comprehensive range of financial products designed for various property needs. This includes residential, semi-commercial, and commercial mortgages, as well as bridging loans. For property investors, TAB’s mortgage rates start from 3.50% plus the Bank of England base rate, with loans available from £100,000 to £5 million on an interest-only basis. The lender supports loan-to-value ratios of up to 75% for residential properties and 70% for commercial assets.
How does TAB’s bridging finance work?
Bridging finance from TAB is structured to cater to urgent funding needs, offering loans ranging from £100,000 to £5 million. The terms can extend up to 24 months, with competitive rates starting at 0.68% per month. This flexibility allows investors and brokers to secure funding quickly, making it an attractive option for those looking to seize property opportunities.
What this means for brokers and property investors
The addition of TAB to the TMA Mortgage Club lending panel significantly broadens the financing options for brokers and their clients. 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 funding solutions across varying market conditions. This partnership is likely to enhance competition in the bridging finance market, potentially leading to better rates and terms for borrowers.
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 complete transactions swiftly. It can be used for various purposes, including purchasing properties at auction or funding renovations.
How can I access TAB’s products through TMA Mortgage Club?
Brokers who are members of the TMA Mortgage Club can access TAB’s range of products directly, allowing them to provide clients with tailored finance solutions that meet their specific property investment needs.