Specialist bridging lender TAB has completed two bridging finance transactions totalling £2.9 million for properties in Oxfordshire and Kensington, both introduced through the same broker, Prism Private Finance.
The first transaction involved a £1.855 million first-charge bridging loan for a five-bedroom country house near Hook Norton, Oxfordshire, set within 14 acres. The property had been acquired using the borrower’s own funds, with the loan structured to refinance the asset while allowing time to market the property. TAB provided a 12-month facility at 70% loan-to-value.
Second-charge facility for Kensington property
The second deal comprised a £1.031 million second-charge bridging loan secured against a period townhouse in Kensington, London, currently configured as 20 self-contained residential units across five floors. The operator required capital for an extensive refurbishment programme before bringing the asset to market.
TAB structured a 24-month second-charge facility at 60.86% LTV, enabling the borrower to retain existing first-charge lending while accessing capital for property enhancement. The lender proceeded despite a historic planning query relating to the building’s conversion, citing the long-established use of the property and the borrower’s exit strategy.
Both facilities completed within five weeks of initial enquiry. The transactions were overseen by underwriting manager Barry Richardson, supported by business development executive Becca Bradley.
Michael Grant, head of sales at TAB, said: “These transactions demonstrate the breadth of our bridging proposition and our ability to structure funding solutions around very different borrower requirements. One case involved refinancing a country house to provide time for an orderly sale, while the other used a second-charge structure to release capital for a refurbishment project without disturbing existing senior debt.”
The deals come as UK housing transactions continue to face pressure, with bridging finance increasingly used to provide flexibility in property transactions. The structures employed in these cases reflect broader market adaptations, particularly as landlords navigate changing regulatory requirements.
Helmee Tekaya of Prism Private Finance said: “TAB went above and beyond to ensure my deal completed. It was a pleasure working with the underwriter Barry. Michael and Becca were always available to assist in pushing the deal along to completion.”
Market implications
The completion of both deals within five weeks indicates continued appetite for short-term finance solutions in the property market, particularly for complex cases involving country properties requiring extended marketing periods and multi-unit residential assets requiring capital improvements.
