Roma Finance, the bridging finance, short term lending and buy-to-let finance specialist, has announced a reduction in rates and increase in LTVs across its product range. Loan amounts have been increased to a maximum of £3m and exit fees have been removed from the majority of the range.
For residential investment property bridging, the standard rate has been reduced to 0.65% per month with no exit fee and a maximum LTV of 70%. Loan terms are between three and twelve months.
There has also been a reduction in refurbishment rates which now start at 0.85% with an LTV up to 70%.
Roma Finance recently introduced its development finance product, which now has rates starting from 1% per month for sites of up to 6 units and a maximum term of 18 months. The commercial bridging offering, launched at the same time, now offers rates from 1.10% up to 60% LTV.
Nick Jones, commercial director at Roma Finance (pictured above), said: “With increasing distribution and support from our funding lines to help us keep pace with the increasing demand, now is the time to ensure we have the right criteria and solutions to meet the appetite for growth within the business.”
He added that Roma’s business levels had risen significantly, and that it was maintaining its upwards trajectory.
“We are continuing to expand the Roma Finance team, and the new lower rates will further stimulate our business in a focused and strategic way…we will continue to deliver excellent service to our intermediary partners and customers.”
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