Tab brings out bridging fixed rates

The new fixed rate deals are available on loans up to a maximum loan to value (LTV) of 70 per cent, and a maximum loan of up to £750,000.

The rate starts at 0.90 per cent per month for loans up to 60 per cent LTV, increasing to 0.95 per cent on loans of up to 65 per cent LTV, and one per cent for loans up to 70 per cent LTV. The bridging loan terms range from one to 24 months with no exit fees charged.

Tab said that the range is focused on residential properties, though it will consider cases where the loan is secured against commercial properties.

The new fixed rate range sits alongside Tab’s tracker bridging loans, which covers loans of up to £15m with rates at 7.99 per cent above the Bank of England base rate.

Duncan Kreeger (pictured), CEO and founder of Tab, said that as the market has stabilised, the lender has wanted to provide more options for its customers, particularly the ability to budget around the knowledge that repayments will not increase in size during the term of the loan.

He continued: “Some things aren’t changing. The service will remain as efficient as with our variable rate products and we continue to be flexible and consider projects that traditional lenders may not. We have the property market experience to recognise potential. 

“Our goal is to continue helping borrowers unlock the capital they need for projects such as the purchase of investment properties, breaking chains, capital raises, the completion of refurbishment and refinancing.”

Earlier this year Tab introduced open banking onto its borrower platform.