TAB completed a £13,500,000 first charge commercial loan on a set of three securities. The three sites are located in Wales with a marina and marine village in Cardiff and a marina in Aberystwyth.

The client is borrowing £80,000 on a first charge loan against a residential leasehold property, planning for loft space above existing flats to convert this into a 2 bedroom flat.

West London ground and lower ground floor flat in a terraced block. The borrower will be refurbishing the property to a very high standard, after which the flat will be sold.

This first charge commercial loan was for £1,580,000 at a rate of 10.20% pa and at 61.20% LTV. The property is offices, arranged over ground and first floors, as well as a workshop building and industrial machinery unit. The total area of the property measures 26,919 sq ft and is subject to a single occupational tenancy. The loan was required to refinance the acquisition of the first site for a renewable energy firm to establish its business. The planned exit is through refinancing. 

TAB has funded £437,537 of an overall facility of £950,000 for a term of 14 months at a LTGDV of 43.78%. Funds will be used in the construction of four new build flats.

The £4,000,000 loan is for 12 months at 59.30% LTV. The site itself currently remains a vacant development site, the surrounding area is mixed, consisting of industrial, commercial and residential accommodation. 

The property is a freehold, newly built detached house currently finished to shell and core. The 8,826 sq ft property also includes a large garden and swimming pool at basement level. The client required a £4,725,000 loan with an LTV of 70% and a rate of 9.60% pa to refinance from a previous lender. The client will sell to exit the loan allowing them to add their own finish to the property.

The first charge commercial bridging loan was for £756,000 for 24 months, with an LTV of 72.70%. The property used as security comprises a four story Grade II listed link building, and is currently the local area's main doctors surgery, with established tenants. The client is looking to retain the property long term and refinance out of the bridge.

The client is borrowing £1.35m on a first charge loan against a commercial freehold property, with a loan to value of 69.97%. The site is regarded as a family-owned jewellers located in the luxurious Hatton Garden.

This first charge commercial loan is for an industrial office and warehouse. The property is in great condition, and it is located in Leyton, London which falls within a commercial and residential regeneration scheme.

In line with the masterplan, the borrower has engaged architects to draw up plans for the development of the site and the expectation is that planning will be approved by March 2022. The development has estimated costs of £53m and a GDV of £71m. 

The loan has an LTV of 59% and is for 9 months. The gross interest rate is 9.60% pa returning investors 7.20%pa.

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 accommodation in the main house, and a further 2,610 sq ft in the barn and cottage annexed to the house. The borrower intends to modernise parts of the house after which he will sell the property and repay the TAB loan.

The second charge bridging loan has a combined loan to value of below 50%, a rate of 10.20%pa and the loan term is 12 months. 

The client needed a loan of £2,490,000 on a newly constructed building of five residential units over three floors. The borrower (who is also the developer) is refinancing out of development finance to allow him time to sell two of the flats and tenant the three remaining flats with a view to then refinancing TAB through traditional BTL finance and flat sales. The loan was 1.00% interest per month at an LTV of 70% for 9 months secured with a first charge.

TAB completes our first deal with Brightstar Specialist Finance, a 9 month land with planning bridging loan. The loan is required for the refinance from their existing lender as the borrower was let down by their development funder and needed additional time to secure a new loan in place and finalise their contract with the local housing association. The land has planning for houses and apartments and is on a site in Devon. The £454,000 loan was funded by TAB investors and has an LTV of 54%.

TAB and Opes Financial Partners have completed a £6.9m bridging loan for the investment purchase of a £11m newly built luxury townhouse in north-west London.

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.

TAB completes first charge residential loan with Opes Financial Partners.

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.

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.

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 LTV was 65% and the loan was charged at 1.20% interest per month for 12 months.

The client required £2,480,000 first charge land with planning loan for 12 months. The property is a site with planning permission which they were able to purchase below value due to a distressed sale. Due to the sensitive time scales the client required a bridge loan to purchase rather than going straight to development funding. The LTV was 59% and the exit is via development finance.

The client required a first charge development loan of £685,000 in tranches to develop of two, four-bedroom houses. The development had already started and TAB advanced the initial funds to clear the original property purchase debt and fund the next stage of construction. TAB provided the loan at a 51% LTGDV for 9 months with an agreed exit strategy of refinancing to a buy-to-let mortgage.

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.

The client required £1,000,000 first charge commercial loan to purchase the leasehold of the security which was granted by way of an underlease, i.e landlord under the terms of the lease holds a 999 year lease. TAB provided the loan at LTV of 40% with a 0.95% interest rate per month for 6 months. The borrower required fast completion, and TAB completed within two weeks.

TAB has completed a £481,000 first charge bridging loan on an HMO property purchase in Coventry within five working days.