108066 - £295,000 commercial mortgage against a mixed-use property in Norwich

TAB provided a £295,000 commercial mortgage secured with a first charge for a term of 36 months at an LTV of 55.66%.

The property is located on a main road in the city centre of Norwich. It consists of a four-storey mid-terrace building with commercial space on the ground and basement floors and residential units above. The ground floor and basement, along with one flat, are currently tenanted, while the other flat remains vacant. Planning and building permission has been granted for converting the upper floors into two studio flats.

TAB leveraged its innovative 'TAB Series' lifecycle product to seamlessly transition from the existing bridge loan to a longer-term solution that better aligned with the borrower's needs. We structured the term mortgage with an LTV ratio appropriate for the project's scope, enabling the borrower to proceed with their planned property improvements.

This mirrors another recent case where a property investor used the same product transition strategy to successfully expand their portfolio. Read about that here.

Our TAB Series product provided a seamless shift from bridging finance to a tailored mortgage, helping the borrower to progress their project without interruption. It’s a solution that shows TAB’s commitment to flexibility and long-term support for property investors. Nick Russell - Sales director