Tab releases lifecycle lending product

The Tab Series loan is for borrowers who need funding at different stages, starting with an initial bridging loan for asset purchase. It also includes a refurbishment loan, if this is needed, then transitions into a long-term commercial mortgage. 

The maximum loan size is £7.5m. Tab said it gave borrowers the ability to work with a single lender and benefit from savings of 2.75% on fees, as well as reduced costs of legal expenses and valuations. 

Other product changes at Tab 

The lender said it was also making the move to use open market values (OMVs) for valuation, which would “benefit both borrowers and brokers”. 

This will apply to loans of up to £2.5m and is a change from the lender’s previous use of 180-day valuations. 

Additionally, Tab has reduced rates in its residential bridging term loan to 4.99% per annum over base. 

Duncan Kreeger (pictured), CEO and founder of Tab, said: “I am happy to introduce Tab Series to the market, our latest innovation designed to meet the needs of borrowers grappling with a changing interest rate environment.

“Meticulously crafted by our team, this tailored solution addresses a significant gap in the market, promising seamless support for borrowers at every stage of their property journey.”

He added: “Prioritising their needs from acquisition to management to disposal, coupled with the other changes we have announced today, empowers borrowers to capitalise on opportunities that may not have otherwise been affordable.” 

Last year, Tab completed a private securitisation facility with Natwest and Atalaya Capital Management for £300m. It said this investment would go towards supporting its lending capacity.