Roma Finance launches new 70% LTV bridging loan product
Roma Finance, the bridging, buy-to-let and development finance lender, has launched new bridging products at 70% Loan to Value.
There are also a number of enhancements to the range. There is a new standard bridging product at 70% LTV with no exit fee and rates from 0.95% and an AVM Auction Product where no physical valuation is required at up to 65% LTV.
With this product, investors can obtain an AVM valuation ahead of an auction, providing them with a ceiling price for bidding and thereby giving them confidence that finance has been secured in advance.
Roma Finance provides bridging and development finance for a variety of properties such as buying at auction, buy to lets, HMOs and semi-commercial property as well as ground-up developments. In addition, the business offers a competitive bridge-to-term option and very recently has launched brand new solutions in the holiday let and serviced accommodation market.
Scott Marshall, pictured, Managing Director, Roma Finance, said:
“With strong and sustainable funding lines in place to help us keep pace with the growing demand for our products, now is the right time to launch these new products and improve LTVs for our priority business lines.
To cope with higher business levels we are continuing to expand the Roma team and we are seeing tremendous growth in our lending for property acquisition and refurbishment. The new products and lower rates will further stimulate our business in a focused and strategic way and we will continue to deliver excellent service to our introducers and customers.”