TAB secures new £200m facility
TAB has secured a £200m funding facility from a challenger bank, providing additional institutional capital to support the growth of its commercial mortgage and bridging operations.
The facility will support TAB Mortgage and TAB Bridge, the lender’s core commercial mortgage and bridging propositions.
The new facility is TAB’s third funding line and supplements an existing institutional facility provided by global investment manager AB CarVal – and money raised from high-net-worth private investors.
TAB said the funding marks a significant milestone in its development and will enable it to grow its loan book, expand its lending activity and support more brokers.
Duncan Kreeger, the chief executive of TAB, said: “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 bank, said: “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.”