Lender TAB secures up to £300m funding led by Natwest with focus on sustainability
Lender TAB has secured an up to £300m round of funding with Natwest and Atalaya to support its bridging and mortgage products.
The private securitisation facility will enable TAB to fund borrowers for up to ten years and leverage its ability to provide capital quickly, the firm announced on Monday.
TAB, which is set to have a £500m loan book by 2024, launched its first commercial mortgage product in September, which offers discounts to borrowers for making their homes more energy efficient.
The new facility is set to bolster this focus on sustainability, including ESG-focused mortgage loans and responsible business practices.
Green mortgages have become more popular in recent years as homeowners look to save on energy bills and interest payments.
Natwest has become a senior note provider for TAB, with founder and chief executive Duncan Kreeger calling the bank’s support “testament to the progress we have made and the confidence in our vision”.
Atalaya will continue its partnership with the firm by providing mezzanine notes for the new facility.
Atalaya previously provided TAB with a £120m revolving credit facility in 2022.
“The completion of the private securitisation facility is a strategic move that will significantly enhance our ability to provide more competitive and flexible financing options to our borrowers for both short term bridging finance and longer term mortgages,” Kreeger said.
“The collaboration with Natwest allows us to not only meet the demand for competitive financing solutions but, in relation to the mortgage product, also to contribute to a more sustainable and resilient real estate finance landscape.”
Daniella Siretz, a managing director at Natwest, added: “Natwest is pleased to support TAB both in the bridging space and with its new term mortgage product that encourages ESG-positive behaviour. Sustainability is a key focus for Natwest and we look forward to a successful and sustainable partnership with TAB.”