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TAB’s loans are secured against UK residential and commercial properties. Our experience means we can be flexible with our valuations and consider projects that may not suit traditional lenders.

First charge residential

TAB’s first charge residential loans are secured against UK residential properties. Our loans are designed to unlock the capital you need. Common uses of first charge loans include the purchase of investment properties, investment property chain breakers, capital raises, completion of refurbishment and refinancing.

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First charge commercial loans

TAB’s first charge commercial loans are secured against UK commercial properties. Common uses of first charge loans include the purchase of investment properties where finance is needed quickly, investment property chain breakers, capital raises on unencumbered properties, completion of refurbishment on investment properties or a refinance of properties. 

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Second charge residential loans

TAB’s second charge residential loans are secured against UK residential properties. Second charge loans allow you to borrow money on a second charge legal basis. This means that you can take another loan out on a property providing there is enough equity to pay your existing first charge, and the second charge loan. Second charge loans are often used for the redevelopment of existing properties or the purchase of an investment property.

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Second charge commercial loans

TAB’s second charge commercial loans are secured against UK commercial properties. Second charge loans allow you to borrow money on a second charge legal basis. This means that you can take another loan out on a property providing there is enough equity to pay your existing first charge, and the second charge loan. Second charge loans are often used for the redevelopment of existing properties, the purchase of an investment property or even business expansion. 

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Land with planning

TAB’s second charge commercial loans are secured against UK commercial properties. Second charge loans allow you to borrow money on a second charge legal basis. This means that you can take another loan out on a property providing there is enough equity to pay your existing first charge, and the second charge loan. Second charge loans are often used for the redevelopment of existing properties, the purchase of an investment property or even business expansion. 

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Development finance

TAB’s development finance is a short term funding solution for up to 24 months for projects based in London and the home counties. TAB development loans are designed to unlock capital to assist with ground up developments, conversions, heavy and light refurbishments and finish and exit property projects. 

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Refurbishment

TAB’s efficient and flexible service means you can access the short term capital you need to refurbish your properties. If you have a property that needs refurbishment but do not have the capital to progress, then TAB Refurbishment might be for you. TAB Refurbishment is an advanced bridging finance solution that allows borrowers to access the capital they need for their refurbishment projects quickly and without the cost of a full development loan.

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Frequently asked questions

A “bridging loan” is a short-term loan that typically lasts between 3 - 24 months. It is usually taken out in order to bridge the gap between one property transaction and the next.

A first charge bridge loan is a loan on a residential or commercial property. In the case of a first charge, TAB will take precedence and first rights on the property. This means that the property could be sold by way of repossession to recover the value of the loan and any associated costs should default occur.

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.