The significant increase in its funding facility will allow the bridging lender to continue its growth and follows the funding it secured from the bank in July 2016 which enabled it to lend up to £50m a year.
To celebrate the new funding, Roma has introduced a special offer rate of 0.85% on bridging loans between £100,000 and £500,000 where customers commit by 21st December.
Scott Marshall, managing director at Roma (pictured above), said he was absolutely delighted with completing the increased funding facility.
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“We’re a national player who fully understands regional markets and this knowledge has served us well, particularly at a time when some lenders in our sector are struggling to raise money from the general public rendering them unable to provide stable funding and consistent decisions for customers.
“News of this additional money further emphasises the importance of working with institutionally backed lenders with deep and committed funding so that borrowers are not let down.”
Keith Richardson, finance director at Roma, added: “The extension of the funding facilities from the Royal Bank of Scotland will allow us to further develop our expert staff, cutting-edge technology and establish new partnerships to provide further products and services for our introducers and their customers.
“The funding demonstrates that Roma Finance is highly regarded in the industry and we are ideally placed to take advantage of new opportunities in this exciting market.”
The RBS team which supported the deal included John Howard, relationship director for corporate coverage, and Linyi Chen from the financial institutions team.
Linyi added: “Over the past few years, Roma Finance has successfully established itself as a well-respected name and reliable partner to work with in the short-term lending industry, thanks to its strong management team.
“Roma Finance [has] a solid business plan to take the business forward and we are delighted to continue our support for [its] growth and development.
“We wish Roma Finance every success for the future.”