The news follows the recent update from the specialist lender that it is providing automatic extensions on all new loans, of up to 24 months.
The free valuations are available immediately for the next eight weeks and will be carried out via an AVM model.
- B&C roundtable: Is the second charge bridging market growing?
- TAB announces automatic 12-month extensions on new loans
- TAB starts using AVM and desktop valuations
“We recognise that bridging needs to be quick and it continues to provide a necessary function in the mortgage market,” explained Duncan Kreeger, founder and CEO of TAB (pictured above).
“…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 at The Brightstar Group, commented that this was a “great move” for borrowers.
“It takes away an element of risk in the transaction and helps borrowers’ cash flow,” he added.
“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.”
Leave a comment