TAB to use AVMs on residential property up to £2m
Specialist lender TAB has announced that it will utilise AVMs and desktop valuations to continue lending on residential property up to a value of £2 million.
"TAB will continue to offer loans for refinancing and purchase for 12 months where all interest is retained for the duration of the loan."
Valuations will be audited by TAB and its partners with a same-day turnaround.
TAB provides a range of short-term loans for first and second charges, as well as for commercial and residential property.
Duncan Kreeger, Founder and CEO of TAB, commented: “I am committed to being able to write quality loans and although we have some challenges right now, we strive to have a can-do attitude. Many responsible borrowers will be hitting a wall trying to have sensible conversations and I want TAB to be thought of as a forward-thinking ambitious lender.
"No one really knows what the impact of Covid-19 will have on the property market. However, TAB will continue to offer loans for refinancing and purchase for 12 months where all interest is retained for the duration of the loan."
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