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.
TAB lends directly to borrowers or through intermediaries. We offer residential loans of up to 70% of the valuation of your project, including the cost of borrowing. There are no exit fees, and we do not lend against your principal residence. There are other instances TAB might lend a first charge residential loan and our experience means we can be flexible with our valuations and consider projects that more traditional lenders would not. We pride ourselves on trust and transparency.
TAB loans are unregulated. Any property used as security is at risk of repossession if you do not keep up with your payments.
Other charges may apply
Following an initial inquiry, borrowers apply for a short-term loan through our application process.
Our team undertakes their due diligence and underwriting process on the borrower and the security property. Terms are then agreed.
The loan is then matched with investors on the TAB platform. Funds are typically available within just 14 days.
The client required a first charge residential of £445,000 for 12 months. TAB offered the loan at 1.00% interest per month with refinancing on a buy-to-let mortgage as the exit strategy. The client needed access to finance in order to purchase the property under market value due to the specific completion deadlines.
The client needed a first charge residential loan of £333,000 to purchase a new build residential property with a new lease created for a period of 999 years. The client’s exit strategy is to refinance on to a buy-to-let mortgage. TAB lent the funds for 0.95% per month at an LTV of 63% for 9 months.
An existing client of TAB’s needed £3,250,000 first charge residential loan to raise capital for funds for further investments. The property was a four bedroom penthouse apartment forming part of a modern residential development. The client’s exit strategy was to refinance the property, the LTV was 53% and TAB agreed terms at 1.00% interest per month, for 12 months.
TAB knows the value of keeping things simple and transparent for everyone. Whatever the size or scope of your plans, our expert team of underwriters, business development managers, and an in-house legal team are here to help with your requirements. Book a meeting with one of our team today.
A bridging loan is a short term loan that typically lasts between 3 - 24 months. It is designed to bridge the gap in your finances until a long term financial solution can be sought or additional funds are received from an alternative source, such as a property sale.
At TAB we know that every borrower is unique. We have the flexibility to consider the broadest range of circumstances and the property market experience to recognize potential where traditional lenders see risk. - Refurbishment/redevelopment loans of all for properties of sizes and complexity - Developer exit loans for completed and nearly completed projects in need of extra finance - Auction completing loans - Commercial bridging loans to expand property portfolios - Mortgage bridging loans, when traditional lenders can’t complete quickly enough.
A first charge 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.
Due to the short term nature of a bridging loan, 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 bridging 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.