Nick Russel

'We do not send out terms just to hit numbers; we opt for quality over quantity'

Looking back over the course of 2020 and the impact the Covid-19 pandemic has had on the world, it is evident that factors out of your control can alter your plans in an incredibly short amount of time.

p>What I have learnt over the past year, and how TAB has been able to navigate through this, is that being certain during this uncertain time is essential to a successful bridging business. What I mean by this is that by not letting deals slip, keeping your word with transactions and deadlines, being fully transparent throughout the process, and providing consistent terms and rates help to keep the market moving. 

In property, we have seen the banks retreating from the lending market. The certainty traditional banks once provided has diminished, and the need for alternative lenders’ flexible and committed funding lines have never been more essential. Being able to provide brokers with the comfort that their clients’ needs will be met, and in a timely fashion, is something that TAB and other specialist lenders are accomplishing. 

Despite the lack of traditional finance available, alternative finance providers have funding ready and are empowering borrowers to realise their opportunities. For example, some landlords that have been unable to collect rent throughout the pandemic have opted to use alternative lenders. Through several, flexible initiatives such as AVMs, automatic extensions for all new loan facilities, and recorded video conferencing signing, borrowers have the breathing space they need to manage their property portfolios. Furthermore, as interest is deducted at the beginning of the loan, borrowers can focus their cash flow operations on what is coming in rather than the interest payments going out. 

Many of TAB’s clients over the past year have found a level of encouragement that when we proceed with a transaction, we are not moving the goalposts. We do not send out terms just to hit numbers; we opt for quality over quantity. I believe that our consistency and certainty about the service we provide and the products we offer has kept us on track and allowed us to steer through these challenging times. As a result, TAB has been able to double its loan book, team, and product offering. Our clients know what they are getting with us, and this is exactly what they need during times of uncertainty. 

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