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Here at TAB, we have a number of secured loans that can help you unlock the capital you need for your specific project. We offer first charge, second charge and development finance so no matter what your project, we can help.
We offer both commercial secured loans and residential secured loans, providing you with short-term funding solutions for development, refurbishment or purchase of an investment property. Plus our innovative technology solutions allow us to deliver quotes on bespoke finance based on the potential of each project within 24 hours.
See our full list of secured property bridging loans below:
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The amount you can borrow on a secured property loan depends on the type of loan you are wanting to take out. Typically our minimum loan size is £100,000 and maximum is £15m.
A secured property loan is where you borrow funds from a lender that is secured against an asset you own. TAB is an unregulated lender we do not lend on your principal property, therefore the asset could be an investment property, commercial asset or land.
Bridging loan is a type of secured property loan. Due to the short term nature of bridging loans, the sum of money borrowed is due for repayment according to the terms that are agreed upon before the loan is completed. Interest is charged on secured property loans which is calculated on a monthly basis. Interest can be paid in one of two ways. Either monthly (serviced) or retained (unserviced). Retained means the total cost of the interest will be rolled up and added to the initial lump sum borrowed and due for repayment at the end of the loan term.
A second charge bridge loan on a residential or commercial property allows you to borrow money, providing there is enough equity whilst leaving your existing first charge in place. A second charge loan applies if you already have a loan secured against a property that already has an outstanding mortgage. For property improvements such as extensions, you would likely need to take out a second charge bridging loan if you already have a mortgage on the property. The distinction lets the lender know who has priority in the repayment if you can’t pay off the loan by the end of the term.
There are some costs that are associated when using bridging finance. Bridging loans also come with a higher rate of interest than a more typical mortgage. Of course, one needs to take a much shorter-term view of such things. Associated costs such as; legal fees, surveyors fees, arrangement fees and exit fees will have an impact on the overall costs of the loan, along with the duration of your loan. The longer term you agree the more it will cost in interest.
For more information you can view our full list of frequently asked questions here.
