Specialist lender, TAB, has relaunched fixed rates for first charge residential bridging loans.
The new fixed rates will apply to loans up to £750,000 and up to 70% loan-to-value (LTV), with terms ranging from one to 24 months and no exit fees.
The rates will begin at 0.9% per month for loans up to 60% LTV, 0.95% per month for loans up to 65% LTV and 1% per month for loans up to 70% LTV.
The reintroduction of fixed rates is intended to provide more options for customers, complementing TAB’s existing range of first charge tracker loans, which include a residential bridging finance product and a first charge commercial loan tracker product.
TAB CEO and founder, Duncan Kreeger (pictured), said that the company’s goal is to help borrowers unlock the capital they need for projects including investment properties, breaking chains, capital raises, refurbishments and refinancing.
Kreeger added: “We continue to be flexible and consider projects that traditional lenders may not.
“We have the property market experience to recognise potential. Our goal is to continue helping borrowers unlock the capital they need for projects such as the purchase of investment properties, breaking chains, capital raises, the completion of refurbishment and refinancing.”
