Roma relaunches bridging lending and brings back furloughed workers

The lender is offering up to 60 per cent loan to value (LTV) with a maximum loan of £500,000 and rates starting at 0.80 per cent a month.

Roma Finance temporarily stopped accepting new applications at the end of March 2020 in response to the Covid-19 pandemic restrictions.

It said it had used the time to innovate and explore new technologies, which will allow the business to lend while respecting social distancing regulations which protect its customers, brokers, employees and other stakeholders.

The desktop valuation product allows Roma to lend using photos taken by the customer.

It added that its relaunch will allow it to start bringing back furloughed team members.

Roma Finance managing director Scott Marshall said: “We are delighted we are taking this huge step to back brokers and customers and the overall industry.

“The current climate will create new buying opportunities for our customers, and we are pleased to have found a revolutionary way to support them, so they can continue to create wealth for themselves and their families.

“Our track record and strong relationships with our funding lines have allowed us to put these exciting new solutions in place and we will continue to strive to make use of the latest technology to support the market.

“On a personal note I am also delighted that these innovations have allowed us to start bringing back to work some of the furloughed members of Team Roma,” he added.