Roma Finance launches bridge-to-term deal

The deal has been developed to offer borrowers longer-term security for property investments.

The maximum loan to value on the term product is 75 per cent, there is no minimum income requirement and top slicing is considered.

The term product is currently only available to those exiting a Roma Finance bridging or development loan.

Roma Finance made the decision to temporarily stop accepting new applications at the end of March in response to the Covid-19 pandemic.

The lender said it used the time to innovate and explore new technologies.

These new initiatives will allow the business to lend while respecting social distancing regulations which protect its customers, brokers, employees and other stakeholders.

It returned to the market 1 May and introduced AVMs and desktop valuations to its processes.

Scott Marshall (pictured), managing director at Roma Finance, said: “The current market is in a constant state of evolution and we are striving to adapt quickly to support brokers and customers and the overall industry. The opportunity for customers to create wealth is still very much present and we have provided a solution to ensure they have security and therefore confidence in their plans.”