Roma Finance,
the bridging finance, short term lending and buy-to-let finance specialist, has launched a new ‘ground up’ development finance product and a commercial finance solution.
The new development finance product offers loans from £100,000 to £750,000 at a LTGDV of 60%. It is understood that both ground up and part-built sites will be considered.
The new commercial bridging range is offered on a vast range of property types, at an LTV of 60% with rates from 1.25% and no exit fee.
In addition to the new launches, Roma Finance has also withdrawn the requirement for additional security from its light, medium, and heavy refurbishment range. This change will provide more borrowers with options for their property projects.
Formed in 2008, Roma Finance provides bridging and development finance for a variety of circumstances such as buying at auction, conversions, refurbishments, HMOs and ground up development.
The business also offers buy-to-let and holiday let products and a simplified legal process with manual underwriting, to ensure a tailored approach with fast completions – with bridges completed within just 14 days of issuing terms.
Nick Jones, commercial director at Roma Finance, said: “The growth in business at Roma Finance has been staggering and we have scaled up to ensure our service levels are maintained in line with demand. We are delighted to be able to offer these new products which have been created in response to customer and intermediary feedback.
“With strong and sustainable funding lines in place to help us keep pace with the growing demand for our products, now is the right time to launch these new products and widen the opportunity in the market.”
Original article featured here…
The news comes after Roma Finance recently announced the end of furlough for the entirety of its operational team last month.
Following record figures recorded in 2020, the specialist lender has been actively expanding its team over recent months in order to continue to deliver its services at high standard.