Nick Jones

Roma Finance cuts rates and increases LTVs across product range

Roma Finance has reduced rates and enlarged LTVs and loan amounts across its product range.

In addition, maximum loan sizes have been increased to £3m and exit fees have been removed from the majority of the range.

The standard rate for residential investment property bridging has been cut to 0.65% per month with no exit fee and a maximum 70% LTV, with loan terms between three and 12 months.

Refurbishment rates have also been lowered, now starting at 0.85% with up to 70% LTV.

The rates for its recently-launched development finance product now start from 1% per month for sites of up to six units, with a maximum term of 18 months.

For commercial bridging, the lender offers rates from 1.10% up to 60% LTV.

Nick Jones, commercial director at Roma Finance (pictured above), said: “With increasing distribution and support from our funding lines to help us keep pace with the increasing demand, now is the time to ensure we have the right criteria and solutions to meet the appetite for growth within the business.”

He added that Roma’s business levels had risen significantly, and that it was maintaining its upwards trajectory.

“We are continuing to expand the Roma Finance team, and the new lower rates will further stimulate our business in a focused and strategic way…we will continue to deliver excellent service to our intermediary partners and customers.”

Phil Jay, director at Complete FS Limited, commented: “It is a very heartening and encouraging sign that Roma Finance are showing their commitment to the industry. 

“Short-term lending is a unique and essential tool, and we are delighted to see these changes. 

“The rate reductions, combined with the criteria enhancements and their expertise in this space, can only be of benefit to all.”

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