TAB secures up to €344m facility from NatWest and Atalaya Capital Management

This facility will support Tab's bridging and mortgage products, and will enable Tab to fund borrowers for up to ten years.

The mortgage product offers borrowers commercial loans from £150,000 (€172,000) to £2.5 mln (€2.9 mln), with terms of three to ten years and a loan-to-value ratio of up to 65%. Borrowers can earn discounts of up to 1.25% off a fixed exit fee of 2.5% by meeting ESG criteria.

NatWest is the senior note provider for the facility, and Atalaya Capital Management is providing the mezzanine notes.

Duncan Kreeger, CEO and Founder of Tab, said: ‘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.’

Brian Moore, principal at Atalaya Capital Management, added: ‘Atalaya Capital Management is happy to deepen its partnership with TAB through the provision of further finance alongside NatWest. This is a significant step forward in our commitment to Tab, following our £120 mln revolving credit facility in 2022, consistent with our positive orientation towards TAB’s business model and outlook.’

Daniella Siretz, managing director at NatWest, commented: ‘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.’

The facility will support Tab’s lending to borrowers who are making their homes and businesses more energy efficient, offering ESG related discounts. Tab is also working to reduce its own environmental impact, and has set a target of becoming net zero by 2030.

TAB has successfully written over £400 mln (€459 mln) in loans within five years and is on track to have a loan book of £500 mln (€573 mln) in 2024.