Tab has provided £510m in loans since its launch in 2018, and its active loan book comprises a record 135 accounts.
Some £380m of this has been lent over the last two-and-a-half years to borrowers in need of bridging, refurbishment and commercial finance solutions.
Tab offers a range of products, including mortgages with loans ranging from three to 10 years and up to 70% loan to value (LTV). It will lend between £100,000 and £2.5m.
Its bridging range has first and second charge residential and commercial options, with loan sizes varying from £100,000 to over £7.5m. Tab offers loan terms from one to 24 months up to 75% LTV.
It also provided refurbishment loans for light and medium refurbishment projects from £100,000, as well as development finance, which is similar to its refurbishment range but for larger development projects.
Last year, Tab obtained a £300m private securitisation facility with NatWest and Atalaya Capital Management to support its lending.
Duncan Kreeger (pictured), CEO and founder of Tab, said: “Tab had an ambitious goal to reach £500m in loans by 2024, and we are delighted to announce that we have achieved this goal while dialling down risk and improving our cost of funding passed onto our valued customers.
“Our team is committed to delivering customer-focused, tailored finance solutions with the highest quality and assurance. Through our hard work and strong relationships with our brokers, Tab can expand its lending presence beyond London to encompass the South East of England, the Midlands, Scotland, and Wales.”
He added: “As we move into the latter part of 2024, political stability and the expectation that interest rates may fall means that there are exciting times ahead for the UK property finance sector.
“We remain dedicated to maintaining our standards and will continue to set further goals, the next being a £700m loan book by 2025.”
Last month, the lender hired Samuel Leach as head of investor relations, to broaden its product offering.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
