Lender TAB is reintroducing fixed rates for first charge residential bridging loans.
Residential bridging loans up to £750,000 and with an LTV of up to 70 per cent, including the cost of borrowing, are eligible for the new fixed rate. For loans up to 60 per cent LTV, the rate starts at 0.90 per cent per month. For loans up to 65 per cent LTV, the rate is from 0.95 per cent per month and for loans up to 70 per cent LTV has a rate from 1.00 per cent per month.
Terms range from one to 24 months and there are no exit fees. While the focus of the reworked range is residential properties, TAB says it will consider loans secured against commercial properties.
