Rates now start at 6.99% over base rate for loans under £2.5 million
Short-term lender TAB has announced reduced interest rates for residential, commercial, and refurbishment bridging loans under £2.5 million.
Rates now start from 6.99% plus the Bank of England base rate, with loan-to-value (LTV) at up 70%. The bridging range has loan terms of one to 24 months and has no exit fees.
We’ve got some exciting news to share with you today… 👀.
— TAB (@tabldn) September 7, 2023
As of today, TAB’s new bridging rate is 6.99%pa over base!
For loans under £2.5m TAB has reduced its bridging rates. We are able to continue providing competitive rates and give you another reason to pick TAB pic.twitter.com/iwdpBEhSk0
The lender said it slashed its bridging rates to help brokers and borrowers during an increasingly challenging market.
“This rate reduction reaffirms TAB’s commitment to supporting brokers and their clients,” commented Nick Russell (pictured), sales director at TAB. “By lowering rates on bridging loans that are under £2.5 million, we are making our lending more accessible, sustainable, and continue to provide brokers with the tools they need to serve their clients.”
“We continue to enhance our offerings so that brokers have robust options to deliver financing solutions. Anything over £2.5 million, we are still funding but at alternative rates.
“Next week, we’re launching our commercial mortgage product to further support borrowers beyond their short-term needs, so keep your eyes peeled for that too.”
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