Specialist lender Tab has reported 163 loan completions so far this year, more than double the 75 it completed last year.
The lender said it was closing the year with “impressive growth and loan performance”, noting that completion values came to £146.2m. Some 64 of the loans Tab completed were in the last 90 days, worth £56.3m.
Tab said it achieved this despite economic challenges in the real estate finance sector, indicating a growing demand for lending.
The lender said it completed as many loans in the final quarter of the year as it did in the whole of 2023.
Its pipeline is currently £110m across 156 loans, which it said signalled a “strong finish” to this year and a “promising start” to 2025.
Tab received 4,155 loan enquiries in 2024, valued at £6.12bn. In the last 90 days, 1,300 enquiries were submitted to the lender, representing £1.49bn.
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Some 98.5% of its loans were first charge mortgages, with 62% going to residential properties and 38% to commercial assets. Most of its business was within London, making up 39% of activity, while Tab said it maintained “strategic coverage” in the South East, East and South West regions of England.
The lender said underwriting supported by artificial intelligence (AI) resulted in faster loan processing times. The average completion time across both its bridging and term debt products was 54 days from application to completion.
Looking ahead, Tab said it wanted to build on this record-breaking year with a stronger performance in 2025, including the launch of new products based on identified market demand and needs.
The lender said by balancing loan volumes with prudent risk management and a diverse portfolio, it was “well-positioned” to build on this year’s momentum and meet the needs of property investors and developers.
