Tab secures £200m facility from GB Bank
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 its core Tab Mortgage and Tab Bridge offerings and is the third funding line secured by the lender. It will supplement an existing institutional facility from global investment manager AB CarVal at the end of last year, and money raised from high-net-worth (HNW) private investors.
Tab said the funding marked a “significant milestone” in its development and 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 our ability to support brokers and their borrower clients across a broader range of property finance transactions; the facility will help us increase lending volumes and be more flexible. This new facility does not replace our two existing funding streams. It complements them.
“And this is also an important endorsement of the business we have built. It reflects confidence in our track record, our technology platform and our approach to commercial mortgages and bridging finance. We believe the opportunity within specialist property finance remains significant; this funding line positions us well to capitalise on it.”
A spokesperson for GB Bank said: “As a purpose-driven, specialist lender combining deep expertise with agile execution, we have been looking for a partner who can deliver tailored lending solutions that fuel growth and create lasting impact across the UK. Tab fits that bill.
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“We were attracted by the combination of underwriting expertise, technology and a clear focus on disciplined lending. The team has demonstrated its ability to scale while maintaining a clear focus on risk management.
“This facility provides additional capacity to support the next stage of Tab’s development across commercial mortgages and bridging finance. We look forward to working closely with Tab as the business grows and as they bring momentum to lending.”
