TAB launches reduced rate resi bridging loans
TAB has introduced a reduced rate for its first charge residential bridging loans.
The loans are secured against UK property, rates start from 6.99% pa, fixed rates are available up to two years and loan-to-values (LTVs) reach 70%.
In addition, there are no exit fees and the maximum loan size is set at £1m.
Nick Russell, sales director at TAB, said: “Our interest rate reduction for the month of March is a token of appreciation for our brokers and borrowers.
“We will continue to deliver the same service to our customers and we hope that the new rates will add value.
“These improvements to our residential product offering, will provide the short term lending market with access to the capital they need just in time to benefit from the stamp duty holiday.”