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Roma Finance reports strong H1

by: Edward Murray
  • 07/08/2017
  • 0
Roma Finance reports strong H1
Roma Finance, the Manchester-based bridging finance and development lender, has reported a strong first half to 30 June 2017.

In H1 the lender issued almost 1,000 Agreements in Principle valued at over £200m. It also said conversions to funded transactions were at their highest levels following the recent introduction of its fast track process.

Scott Marshall (pictured), managing director at Roma, commented: “I’m delighted with the performance of the company so far in 2017. We have worked hard on our new fast track process, which has seen us improve the time to pay out and build upon our excellent service levels.”

He added: “Our underwriting team has been strengthened to cater for the increased demand and we remain pragmatic and timely with our lending decisions, which is well received by our loyal introducer base.

“Despite a number of new lenders coming into the short term lending space, our knowledge of the complexities of bridging cases and our ability to be pragmatic when challenged means we still remain a solid choice for those looking to acquire investment properties quickly, renovate them or change their use. We are also finding the number of introducers we’re working with on multiple projects increasing which is very satisfying in such a competitive market.”

In recent months the lender has restructured its underwriting team and last summer Roma secured a multi-million pound funding line from Royal Bank of Scotland, allowing it to lend a further £50m a year over the next three years.

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