TAB completes £34m of loans in August

TAB completed £34m of loans in August, up from £30m in June and July.

This amount was spread across eight loans — including a £5.52m first-charge residential deal secured against a 53-storey block of flats in Canary Wharf, and a £5.9m, 65% LTV loan for a £9.1m three-storey mansion and country estate in rural Berkshire.

This beats the lender’s previous record month set in April , when it completed 11 loans totalling £23.7m.

Duncan Kreeger, CEO and founder of TAB (pictured above), said: “The team has been hugely busy providing bridging and development finance for residential and commercial assets over the course of the month.

“We’ve gone the extra mile to find some pragmatic bespoke solutions that work in the real world, in conjunction with our broker partners.

“It is a testament to our expert team, our problem-solving, entrepreneurial attitude and commercial approach to underwriting, and our cutting-edge technology that we have been able to be so flexible and move so swiftly on some very complex deals.

“We are committed to ESG issues and that, together with our commitment to trust and transparency, has underpinned every loan we have made over the course of the month.

“I am also pleased to say that all eight of the bridging loans we wrote over the course of the month were TAB Tracker loans, a variable rate product we introduced in May.

“This illustrates how TAB combines outstanding broker service and innovative products."

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