TAB has secured a £200 million funding facility from a challenger bank to provide additional capital for its bridging and commercial mortgage lending.
The facility will support TAB Bridge and TAB Mortgage, the lender’s core bridging and commercial mortgage propositions.
It becomes TAB’s third active funding line, sitting alongside an existing institutional facility from global investment manager AB CarVal and funding raised from high-net-worth private investors.
TAB said the additional capacity would allow it to grow its loan book, increase lending volumes and support more brokers and their clients.
Duncan Kreeger (pictured), chief executive of TAB, says: “Securing a facility of this scale strengthens our ability to support brokers and their borrower clients across a broader range of property finance transactions; the facility will help us increase lending volumes and be more flexible. This new facility does not replace our two existing funding streams. It compliments them.
“And this is also an important endorsement of the business we have built. It reflects confidence in our track record, our technology platform and our approach to commercial mortgages and bridging finance.
“We believe the opportunity within specialist property finance remains significant; this funding line positions us well to capitalise on it.”
A spokesperson for the funding bank says: “As a purpose-driven, specialist lender combining deep expertise with agile execution, we have been looking for a partner who can deliver tailored lending solutions that fuel growth and create lasting impact across the UK. TAB fits that bill.
“We were attracted by the combination of underwriting expertise, technology and a clear focus on disciplined lending. The team has demonstrated its ability to scale while maintaining a clear focus on risk management.
“This facility provides additional capacity to support the next stage of TAB’s development across commercial mortgages and bridging finance. We look forward to working closely with TAB as the business grows and as they bring momentum to lending.”
