Scott Marshall, CEO of Roma Financce

Roma Finance temporarily stops accepting new business

Roma Finance has temporarily stopped accepting new business applications amid the Covid-19 crisis.

The bridging, buy-to-let and development finance lender will prioritise its current pipeline through to completion.

This follows the government’s national restriction on movement to prevent the further spread of the coronavirus.

In a statement, the lender said that the current situation meant it had become “increasingly difficult” to find valuers willing to inspect properties and, with many solicitors now also working from home, it had “inhibited” their ability to witness and properly advise on legal charges.

As a result, it has made this decision for the time being to “ease the burden on its underwriters.”

Scott Marshall, managing director at Roma Finance (pictured above), said: “The decision is a prudent one at this time, but rest assured Roma Finance remains committed to the bridging, development finance and BTL lending sectors.

“As a well-funded and successful business with a highly motivated team, we’ll be launching new products to help kickstart the market as soon as the government’s restrictions are lifted,” he added.

This follows news from earlier this week that Together has temporarily halted new loan applications across its product range.

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