TAB launches £2.5m residential mortgage product
Real estate financer TAB has launched a new residential mortgage product which allows borrowers to access up to £2.5m for buy-to-let and other residential investments.
The interest-only mortgages come with a loan-to-value of up to 70 per cent, on loan terms of between three and 10 years. The product has been designed for unregulated residential investment properties such as holiday lets and AirBnBs, as well as professional landlords with HMO portfolios, TAB said.
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“We are delighted to unveil our latest offering, the TAB mortgage residential investment product, marking a significant evolution in our commitment to serving the diverse needs of property investors,” said Duncan Kreeger, chief executive and founder of TAB.
“As we expand our portfolio, the TAB mortgage residential investment is not just another mortgage; it’s a tailored solution that reflects our dedication to providing flexible products that meet the diverse needs of customers.”
TAB’s residential mortgage products target sustainability-focused property investors and offer borrowers a discount of up to one per cent off the exit fee, if the property meets certain ESG criteria.
Read more: TAB launches commercial mortgage product with ESG incentives
A discount of up to 0.5 per cent can be claimed when landlords improve the property’s energy performance certificate ratings from a D to an A.
A further 0.25 per cent discount can be claimed when sustainability action has been taken, for instance, installing electric vehicle charging ports at the property, or using green building materials.
And an additional 0.25 per cent discount can be claimed if the property is used for a social good, for instance if it is leased to social enterprises, charities or adult learning centres.
Read more: TAB secures £300m NatWest securitisation facility
