TAB offers free valuations on bridging loans

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Duncan Kreeger TAB

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.