Bridging
Roma Finance secures multi-million pound funding from RBS
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Carmen ReichmanBridging lender Roma Finance has secured a multi-million pound funding line from Royal Bank of Scotland (RBS), allowing it to lend a further £50m a year over the next three years.
Roma said many bridging lenders were fearful that the Brexit vote would send jitters through the market.
Managing director Scott Marshall said: “It’s an exciting time at Roma Finance as we look to take advantage of favourable opportunities in what looks like becoming a counter-cyclical environment.
“In particular we are delighted to be one of the first bridging companies to have completed a post-Brexit securitisation which reflects the strength of our proposition and the unique way we underwrite transactions.”
Roma said it would use the funding to grow the business and seek out new partnerships.
The Manchester-based lender was established in 2008 as a source of funding for short-term secured bridging loans on residential, commercial and industrial properties throughout England, Wales and Scotland.
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The firm saw lending volumes quadruple year-on-year in the first quarter of 2016, according to figures it released in April.