TAB offers free valuations on bridging loans
In order to support both new and existing borrowers, TAB is announcing that it is offering free valuations on all residential purchases under £1m.
The valuations will be carried out via an AVM model allowing the process to be easy and quick for the borrower.
Duncan Kreeger, pictured, TAB said:
“At TAB we understand the challenges of buying a property in the current market. We want to shield our borrowers from any large capital outlay and minimise financial risk when applying for a mortgage or secured loan.
Historically bridging lenders have not accepted AVMs. We were one of the first to introduce this during the Covid-19 crisis. We recognise that bridging needs to be quick and it continues to provide a necessary function in the mortgage market.
Then after hearing from both borrowers and introducers, I understood that taking away the valuation cost at a financially difficult time was the right thing to do.”
Rob Jupp CEO of Brightstar stated:
“This is a great move for borrowers. It takes away an element of risk in the transaction and helps borrowers cash flow. This is especially helpful for borrowers that have exchanged on a purchase and are struggling to get a surveyor to go out to the property”.
This offer takes effect immediately and will be available for the next 8 weeks.
To work out the fees involved in a bridging loan, use our bridging loan calculator.