TAB Talk September 2024
Behind every update there's a story of hard work, collaboration and a team of people who make it all possible
This month has been a whirlwind of activity at TAB, filled with strategic moves, exciting developments and non-stop innovation. We've been covering miles, both literally and figuratively, as we push our business forward.?
As part of the wider group, we’ve been diving into complicated acquisitions and integrating recent mergers. We're constantly evolving to meet the future head on. We’ve been redefining roles, responsibilities and our organisational structure to better align with our ambitious plans.?
Amidst the continual lending and property investments, we're always looking for ways to improve and innovate. This month we hosted an innovation day, bringing the team together for brainstorming and collaboration. It was a valuable opportunity to explore new ideas, challenge our assumptions and shape the future direction of TAB. These sessions help us stay ahead in a rapidly changing market and ensure we're always offering the best service to our clients.
As I share this newsletter with you, know that behind every update there's a story of hard work, collaboration and a team of people who make it all possible.
Now, let's dive into the details:?
TAB Property
As mentioned in August’s newsletter, investors fully funded a new TAB Property in just three hours, even before I could share it with our investor network! With completion of this property due to take place in just two working days, we're delighted that investors will soon be earning property income. This acquisition will take us to approaching the ￡10m mark with more to come!
For those who missed out, make sure you sign up for investment alerts on your dashboard (or just reply saying "add me to the alerts") to be in with a chance to participate in the next TAB Property opportunity. You can still invest in TAB Property Travelodge Chigwell, which is available on the TAB Market.
As seen in the press
This month, we've been making waves in the media. I contributed to an article on mortgage trends titled 'What methods are effective for assessing property value in a fluctuating market?' In the piece, I discussed how understanding target market demographics can be a powerful strategy for evaluating real estate in a shifting market.
I also touched on the importance of analysing real-time market data and staying informed on industry developments. Read the full article here.
TAB has been featured in ‘London Daily News top 40 awards: Recognising the most progressive and growing businesses in 2024.’ Read the full article here. We're honoured to be listed alongside well-recognised growing businesses, including companies like:
This isn’t all the press coverage we’ve had this month. Stay up to date by following us on social media, or explore TAB University for our latest articles, blog posts and news highlights.
Property Prokart Challenge 2024
The TAB team successfully participated in the 'Property Prokart Challenge 2024' at the Daytona racetrack in Milton Keynes, finishing 13th overall out of 22 teams and more than 80 drivers! The event not only provided a fantastic opportunity for networking with other property professionals but also strengthened our team bond as we worked together through the challenges of the six-hour endurance race. A big thank you to the team for their dedication, effort and speedy driving.
TAB Mortgage one year on
I can't quite believe that TAB launched its mortgage product in September last year. We're so pleased we did, as it sounds like you guys needed it. Since launch, we have had over half a billion in enquiries and ￡77 million in application forms and underwriting, helping to grow our loan book to ￡230 million.?
We have been able to reduce our rates to 3.74% pa plus the Bank of England base rate, which has been held at 5.00% for another six weeks. We're hoping that come the next treasury meeting, we’ll be able to share even better news with further rate reductions!
Of course, it wouldn't be complete without our ESG incentives, where at the end of the loan, borrowers can get a discount on the exit fee thanks to ESG improvements they make to their properties. For more information, get in touch with the sales team (more on them below), who are happy to take you through TAB Mortgage and any other product in detail.
Meet the sales team
When it comes to specialist finance, our sales team doesn't just know the ropes – they're the ones who tie them!?
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Led by our COO Stephen Wasserman and sales director Nick Russell , the team includes Andy Reid and Martyn Evans covering the South East and the North respectively, Sophie Meller focusing on London, and the glue that holds them all together Yohann Ifrah and Aron Schechter holding down the fort at HQ.? They're not just experts; they're TAB’s go-to guides who can recite mortgage terms in their sleep. Whether you need fast finance, have questions, or just want to chat about the latest in property finance over a coffee, the sales team has you covered.?
Guest opinion:?Adam Gee Construct ID Group?
Adam Gee is the founder and CEO of Construct ID Group, a leading construction firm based in the UK. Construct ID was established with the mission of building exceptional quality spaces that consistently exceed client expectations.
We spoke to Adam about the challenges and opportunities facing the construction sector under the Labour government, as well as how Construct ID's dedicated approach sets them apart in the market. His insights provide a firsthand perspective, here’s what he had to say:
"The recent change to a Labour government brings both challenges and opportunities for the property and construction sector, especially for small and medium-sized businesses like Construct ID. The industry has been under strain with rising costs, labour shortages, and ongoing economic uncertainty. The new government must address these issues, and we’re hopeful that increased investment in infrastructure and housing will help create a more stable environment for contractors.
One of the key areas that could make a difference is planning reform and the push for sustainable development. If the government can streamline the planning process and reduce delays, it would make it easier for builders and developers to deliver the housing the country needs.
We remain cautiously optimistic that Labour will focus on creating a supportive environment where both large and small construction firms can thrive. Their policies must promote economic growth while also building a strong, future-proof construction sector that can meet the challenges ahead."
Thanks, Adam, for sharing your insights! We'd love to hear from our readers as well. What are your thoughts on the impact of the new government? And if you're interested in being featured in our next newsletter, make sure to reach out - we're always eager to showcase diverse perspectives from the industry. Thanks and have a great month!?
DK
Founder and CEO?
TAB. Trust. Transparency.
News in numbers
112
points scored in September by the McLaren Racing F1 team ?
252m
downloads of TikTok in 2024 Q2
5.3m
viewers of HBO's 'The Penguin' in the first four days ?
250k
attendees of Open House London Festival 2024