Roma reports record month for new business and redemptions in October

Roma Finance has announced that it achieved a monthly record in October, not only for new business but also redemptions at a time it called “the most challenging economic time since the credit crunch.”

Year-on-year, the Roma loan book has increased by 88 per cent. Meanwhile, successful redemptions have continued to climb with a 100 per cent year-on-year increase.

It stated that it has had its highest ever pipeline in both volume and value with demand for its RomaFLOW products, the fast completions channel, being its most popular range.

Roma: ‘New products ready to launch in Q1 2023’

Roma stated that the surge in enquiries and cases demonstrates the growing requirement for short-term finance and the drive of landlords, developers and property investors to continue their own growth aspirations.

Scott Marshall (pictured), managing director said, “These results are fantastic, demonstrating the quality of our originations team, our strength and depth in underwriting, incredible support from our funding lines and the extraordinary way we work with borrowers to achieve positive outcomes, particularly during challenging times. The amount of repeat business, recommendations and referrals we receive are testament to this.

“The more customers that return, the more certain we are that our unique proposition works. But we are not stopping here and the next 18 months promises to be even more exciting, with new products ready for launch in Q1 2023.”

It has been a busy year for the specialist lender. In July, Specialist Lending Solutions reported that the company had made eight appointments and three promotions to boost its short-term finance teams. And in September, we noted that Roma had launched a bridging product and reduced rates for higher loan to value (LTV) products.