TAB offers free valuations on bridging loans

By Bridging Loan Directory 28th April 2020

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.