Roma cuts rates, raises LTVs and maximum loans

Roma cuts rates, raises LTVs and maximum loans

 

The standard rate for residential investment property bridging has been reduced to 0.65 per cent per month with no exit fee and a maximum LTV of 70 per cent. Loan terms are three to 12 months.

Refurbishment rates have also been cut to start at 0.85 per cent with an LTV of up to 70 per cent.

Its development finance product now has rates available from one per cent per month for sites of up to six units, with a maximum term of 18 months.

The commercial bridging solution is now available with rates from 1.10 per cent and an increased LTV of 60 per cent.

Maximum loans sizes have been increased to £3m and exit fees have been removed from the majority of the range, the lender added.

Roma Finance commercial director Nick Jones (pictured) said: “With increasing distribution and support from our funding lines to help us keep pace with the growing demand, now is the time to ensure to we have the right criteria and solutions to meet the appetite for growth within the business.

“Business levels have grown significantly and we are maintaining the upwards trajectory.

“We are continuing to expand the Roma Finance team and the new lower rates will further stimulate our business in a focused and strategic way and we will continue to deliver excellent service to our intermediary partners and customers.”