TAB launches new 'life cycle' lending product

TAB has launched a new life cycle product, TAB Series, designed for borrowers that require funding throughout the entire life cycle of a property.

The lending package offers customers an initial bridging loan for asset purchase, a refurbishment loan if required, and later, a long-term commercial mortgage.

TAB, who recently completed its private securitisation facility with NatWest and Atalaya Capital Management for £300 million, is also transitioning to using open market values (OMV) for residential bridging loans up to £2.5 million.

It previously used 180 day valuations, and the change will increase TAB’s ability to serve the market. This will be coupled with reduced rates across its residential bridging finance product range, which now start from 4.99% per annum over base rate.

TAB Series offers loans of up to £7.5 million, providing borrowers with the opportunity to work with a single lender and benefit from savings of 2.75% on fees, and reduced costs on legal expenses and valuations.

CEO and founder of TAB, Duncan Kreeger, said: “I am happy to introduce TAB Series to the market, our latest innovation designed to meet the needs of borrowers grappling with a changing interest rate environment. Meticulously crafted by our team, this tailored solution addresses a significant gap in the market, promising seamless support for borrowers at every stage of their property journey.

"Prioritising their needs from acquisition to management to disposal coupled with the other changes we have announced today, empowers borrowers to capitalise on opportunities that may not have otherwise been affordable.”