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Roma Finance cuts rates across product range

by: Carmen Reichman
  • 06/09/2016
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Roma Finance cuts rates across product range
Bridging lender Roma Finance has cut the rates on its residential and semi-commercial products by as much as 0.25%.

The firm’s new offering includes a residential first charge loan at 0.95%, second charge at 1.1% and semi-commercial product set at 1.05%. The firm also removed the exit fees on all non-commercial products.

Roma Finance said it wants to fuel its growth and expansion. The firm secured a multi-million pound funding line from the Royal Bank of Scotland in July, which will allow it to lend a further £50m a year over the next three years.

Managing director Scott Marshall said: “The new products and lower rates will help ensure we are well placed to take advantage of current opportunities in the post-Brexit bridging finance market and will allow us to further develop our business and establish new partnerships.”

The firm also increased the Loan To Value (LTV) on residential investment property purchases to 75%, with a further 100% LTV available subject to additional security.

The lender said the new range was particularly suitable for houses in multiple occupation conversions, property renovations, auction purchases and ‘unmortgageable’ properties.

Roma Finance lends to those who are employed, self-employed, companies, partnerships and sole traders with all types of credit history considered.

 

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