TAB provided a £150,000 bridging loan for 12 months, secured against a residential property in Shrewsbury, Shropshire, with an LTV of 54.15%. 

The property is a three-bedroom detached house in vacant and reasonable condition. It has a total floor area of approximately 95 sqm. 

TAB was comfortable facilitating the loan at 54.15% LTV, allowing the borrower to proceed with the purchase in line with their funding timeline. 

The funds will be used to purchase the property, supported by the borrower’s additional capital. This includes rental income, an intercompany loan from their off-licence business, and a director’s loan. 

The borrower’s exit strategy is to refinance onto a buy-to-let mortgage.