It has returned with new AVM and desktop valuation products, enabling it to lend using photos taken by the customer.
The new solutions will be utilised to support existing cases and new bridging applications.
The news follows the announcement on 25th March, when Roma reported it had temporarily stopped accepting new business applications amid the Covid-19 crisis.
The situation meant it had become “increasingly difficult” to find valuers willing to inspect properties and, with many solicitors working from home, it had “inhibited” the lender’s ability to witness and properly advise on legal charges.
However, during this time, it has innovated and explored new technologies, which will allow the business to lend while respecting social distancing regulations to protect customers, brokers, employees and other stakeholders.
Now, the bridging, BTL and development finance provider will offer rates on the new AVM and desktop products from 0.89% per month, on a first-charge basis, up to 60% LTV, with a maximum loan size of £500,000.
Furloughed team members will also start being brought back to work to help drive the business and specialist finance industry forward.
“We are delighted we are taking this huge step to back brokers and customers and the overall industry,” said Scott Marshall, managing director at Roma Finance (pictured above).
“The current climate will create new buying opportunities for our customers, and we are pleased to have found a revolutionary way to support them, so they can continue to create wealth for themselves and their families.
“Our track record and strong relationships with our funding lines have allowed us to put these exciting new solutions in place and we will continue to strive to make use of the latest technology to support the market.
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“On a personal note, I am also delighted that these innovations have allowed us to start bringing back to work some of the furloughed members of team Roma.”
In an exclusive interview with Bridging & Commercial on Thursday (30th April), Scott said that its funding lines were “hugely supportive” of the initiatives it was taking.
He confirmed that, during the lockdown period, and where development finance customers have carried out works, Roma had been able to support them throughout and fund works that had been completed.
He also revealed that the business had recently made three new appointments.
This includes Mark Pretty as relationship manager, Tom Molloy as BDM for the North, and Charlotte Rutter as head of marketing.
Mark has over 40 years of experience in commercial banking and property finance, specialising in bridging and development loans.
Mark Pretty, relationship manager at Roma Finance
He previously worked at Together, where he spent the last 10 years as a relationship manager, responsible for looking after a portfolio of its development finance clients.
Charlotte — who has worked in marketing for over 15 years — joins from TFC Homeloans, and is excited to be part of the business at this “significant time of growth and opportunity”.
Charlotte Rutter, Roma’s new head of marketing
Tom previously worked at Mansfield Building Society, in addition to various roles at large corporate lenders, and is keen to build the Roma brand while strengthening existing and new relationships within the intermediary market.
The specialist lender is also set to announce further innovation for the sector once government restrictions are eased.
“As the lockdown gets lifted, Roma will be enhancing [its] BTL products to cater for new markets,” Scott stated.
Expect to read all about it on B&C, first.