Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Tab secures £200m facility from GB Bank
Specialist lender Tab has obtained a £200m funding line from GB Bank to support the growth of its commercial mortgage and bridging loan propositions. The facility will support the lender's core Tab Mortgage and Tab Bridge offerings and is the third funding line secured by the business.
The new facility will supplement an existing institutional facility from global investment manager AB CarVal, secured at the end of last year, alongside money raised from high-net-worth (HNW) private investors.
What the funding means
Tab said the funding marked a "significant milestone" in its development, and that it will support loan book growth, expand its lending activity and support more brokers.
Duncan Kreeger, chief executive of Tab, said securing a facility of this scale strengthens the lender's ability to support brokers and their borrower clients across a broader range of property finance transactions. He added that the facility will help the business increase lending volumes and be more flexible, and that it complements rather than replaces the two existing funding streams. Kreeger also described the deal as an important endorsement of the business, reflecting confidence in its track record, its technology platform and its approach to commercial mortgages and bridging finance.
GB Bank's view
A spokesperson for GB Bank said the bank had been looking for a partner able to deliver tailored lending solutions that fuel growth and create lasting impact across the UK, and that Tab fits that bill. The spokesperson cited Tab's underwriting expertise, technology and clear focus on disciplined lending, noting the team has demonstrated its ability to scale while maintaining a focus on risk management.
The bank said the facility provides additional capacity to support the next stage of Tab's development across commercial mortgages and bridging finance.
What it means for intermediaries
For letting agents, inventory clerks and brokers working in the specialist property finance space, the deal signals increased capacity at an active bridging lender. Tab has indicated the new funding will enable it to support more brokers and increase lending volumes across commercial mortgages and bridging finance.
Source: Mortgage Solutions