Second Charge Bridging 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.

TAB lends directly to borrowers and through intermediaries. We offer second charge loans 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.

TAB loans are unregulated. Any property used as security is at risk of repossession if you do not keep up with your payments.

Second charge residential loans product details

Tracker interest rate:

from 9.00% pa over BoE base

Minimum loan:

£100,000

Maximum loan:

£10,000,000

LTV:

up to 70%

Term:

maximum 24 months

Exit fee:

none

Other charges may apply

How it works

Borrower applies

Following an initial enquiry, borrowers apply for a loan through our application process.

Decision made

Our team undertakes their due diligence and underwriting process on the borrower and the security property. Terms are then agreed.

Perfect match

The loan is then matched with investors on the TAB platform. Funds are typically available within just 14 days.

Make an enquiry

We want to make sure you have the right support for you. Whether it's a current deal, an enquiry or your investor account. You can speak to one of our team members from Monday to Friday 9am to 5:30pm

Get started with second charge residential finance today

If you think you need property finance, get in touch with our expert team to secure your second charge bridging loan.

Broker / borrower enquiries

0208 057 9070

enquiries@tabhq.com

General enquiries

0208 057 9070

help@tabhq.com

Frequently asked questions

A second charge loan on a residential property allows you to borrow money, providing there is enough equity whilst leaving your existing first charge loan 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.

If you would like to take a second charge residential bridging loan then typically TAB's minimum is £100,000 and the maximum is £5m.

Hackney, London: The client required a second charge residential loan of £380,000 for 12 months to refinance an existing bridge allowing sufficient time to establish an exit plan. A condition attached to the exit, in this case, waws that the property must be marketed by month six of the term to allow sufficient time to redeem. The LTV was 60% charged at 1.00% interest per month.

TAB takes security over real estate for each loan. TAB requires personal and sometimes corporate guarantees for loans to corporate borrowers. Details of a particular security will be set out in each loan's term sheet. TAB adopts industry practice standards towards the taking of each security, through the engagement of appropriately qualified and experienced solicitors. It is the responsibility of the solicitor TAB instructs to undertake appropriate real estate and other due diligence so as to ensure that the loan security is capable of enforcement, free from any unknown competing charges and interests.

For more information you can view our full list of frequently asked questions here.

Case studies

2122 - Kensington, London

This second charge loans is for a ground floor two bedroom, two bathroom flat situated in a purpose built block that benefits from a private balcony located in West Kensington. ..

1977 - Heathfield, East Sussex

TAB is advancing a second charge loan on a Grade II listed five bedroom property located near Horsham, East Sussex, and the High Weald Area of Natural Beauty. The property which has origins from the pre-Tudor period is set on four acres of land and comprises 4,291 sq ft of... ..

970 - Hackney, London

The client required a second charge residential loan of £380,000 for 12 months to refinance an existing bridge allowing sufficient time to establish an exit plan. A condition attached to the exit, in this case, waws that the property must be marketed by month six of the term to allow... ..

Our team

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.

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