Specialist lender TAB has provided a £5.85 million bridging loan to a borrower through intermediary Abbey Capital, with completion achieved within a short timeframe from initial agreement.
The 24-month facility was structured without a planning component, which the lender said enabled faster processing. The transaction was arranged through Craig Booth, director at Abbey Capital, who acted as intermediary.
Transaction details
The deal included a £5.85 million bridging facility over a 24-month term, with no planning element attached to the transaction. TAB stated that the loan was underwritten by a dedicated team that remained involved throughout the process, rather than using automated systems or call centres.
Michael Grant, head of sales at TAB, led the transaction alongside Chioma Amakulo, underwriting manager. Legal services were provided by Gunnercooke, with TAB’s internal teams coordinating underwriting, legal work and funding.
Booth commented on the completion: “There are not many lenders I can say are really good to deal with, but you are.” He added: “I’ve just got back to read the news we have completed. Thank you to you all for your input and efforts. I messaged Michael earlier, hopefully this is the first of many we do together.”
Lender approach
TAB said its operating model provides borrowers with direct access to decision-makers throughout a transaction, avoiding layered approval processes. The lender stated that internal teams coordinate execution to maintain continuity.
The transaction represents TAB’s approach to short-term bridging finance in the specialist lending market, with the lender focusing on direct communication channels between borrowers, advisers and underwriting teams.
