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Roma Finance lending grows by 300%

by: Rebekah Commane
  • 01/04/2016
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Roma Finance lending grows by 300%
Manchester-based bridging and development lender, Roma Finance, has seen a 300% year-on-year increase in lending volumes in the first quarter of 2016.

The average loan provided by the specialist lender in Q1 also increased and Roma said its new three-month 0.45% product helped to boost business levels, along with increasing their maximum loan size to £650,000.

A review of business processes increased efficiencies, streamlined administration and reduced the packaging requirement for introducers, according to the company.

Director Scott Marshall said: “The first quarter of 2016 has seen a lot of our planned improvements to the business come to fruition. From products to processes to partnerships, the hard work has yielded an impressive 300% increase in lending volumes which is a great credit to the whole team at Roma.

“We have been fortunate that the market has worked in our favour with the tax changes to buy-to-let properties, although encouragingly over the past couple of weeks we have also seen a good level of enquiries for completions during April which is not what we were expecting.

“Properties such as HMOs and unmortgageable properties remain popular and our pragmatic approach to underwriting has struck a chord with introducers and their clients, helping our drive for growth.”

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