The firm will offer bridging loan services in major Scottish towns and cities
Specialist lender TAB has announced its expansion into Scotland, marking a significant step in its strategy to broaden its bridging loan services across the UK.
The real estate finance and investment firm is set to target major towns and cities within Scotland, offering services for both commercial and residential properties.
Jon Sturgess (pictured), sales development director at TAB, will lead the team in Scotland, focusing on developing new and existing relationships, with Brodies LLP serving as the primary solicitor for TAB in Scotland.
“2024 has already been an exciting year for TAB as we continue to extend our lending products across the whole of the UK,” Sturgess said. “There is no better time than now to launch our offering in Scotland.
“TAB Scotland is an opportunity for us to strengthen our ties and provide our expert lending services to our customers. We’ve already partnered with top brokers in the area, making TAB a go-to place for all lending needs.”
TAB, which recently introduced a residential investment mortgage product to expand its presence in the residential market, offers bridging loans up to £2.5 million, with terms of up to 24 months and a maximum loan-to-value ratio of 70%.
Alistair Ewing, managing director at the Lending Channel, expressed enthusiasm for TAB’s introduction of short-term lending services to Scotland.
“TAB’s leadership boasts extensive experience in bridging finance, and their addition to our lender panel demonstrates their dedication to supplying innovative financial solutions personalised to Scottish borrowers,” Ewing said. “I am confident that their presence will enhance our offerings and provide valuable opportunities for our clients. We look forward to a fruitful partnership ahead.”
The expansion follows TAB’s strong 2023 performance, which saw the company securing a £300 million private securitisation facility from Natwest and introducing new commercial mortgage and fractional investment products.
Moving beyond its traditional focus areas of London and the South East, TAB’s push into Scotland is part of a broader growth strategy for 2024, including the recruitment of business development managers targeting the North, South, and Midlands regions of England and Wales.
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