Second charge residential bridging loans

Get fast, short-term access to the capital you need to complete your projects

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TAB. Trust. Transparency.

1. Efficient and flexible service

2. Terms from 1 to 24 months

3. LTVs up to 70% 

4. No exit fees

5. Over 25 years of lending experiences

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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.

TAB lends directly to borrowers and through intermediaries. We offer 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

Interest rate:
From 0.95% pm
Minimum loan:
£ 100,000
Maximum loan:
£ 5,000,000
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.

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Case studies

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... ..
912 - Clerkenwell, London
The client required a £220,000 second charge residential loan to raise capital. The property used as security was a recently renovated property that is to be refinanced to Kent Reliance. Due to current market conditions, there was a delay on refinancing which is why the client required a bridge. The... ..
829 Selby, Yorkshire
The client needed a £250,000 first charge mixed use bridging loan for capital raise. The client’s exit strategy is to sell to a developer on the grant of planning permission. The planning was submitted for the conversion of commercial elements of the property to residential. The LTV was 65% and... ..

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.

 

Duncan Kreeger

Founder and CEO

Nick Russell

Sales Director

Eli Korman

Chief Investment Officer and Head of Development Finance

Bethan Jones

Business Development Manager

Danny Scoltock

Head of Underwriting

Find out more

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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.