Roma Finance, the Manchester based bridging finance and development lender, has reported a 300% increase in lending volumes in the first quarter of 2016 compared to the same period in 2015.
Average loan size and redemptions have also increased, meaning Roma Finance is on track to triple their lending in 2016.
Scott Marshall (pictured), Roma Finance’s director, said: “The first quarter of 2016 has seen a lot of our planned improvements to the business come to fruition. From products to processes to partnerships, the hard work has yielded an impressive 300% increase in lending volumes which is a great credit to the whole team at Roma.
“We have been fortunate that the market has worked in our favour with the tax changes to buy-to-let properties, although encouragingly over the past couple of weeks we have also seen a good level of enquiries for completions during April which is not what we were expecting. Part of the success is definitely because more introducers are working with us and experiencing the great levels of service we provide.
“It’s pleasing that we are still able to provide funding quickly with Agreements In Principle being delivered within an hour of enquiry and being able to fund deals in just 48 hours. Properties such as HMOs and un-mortgageable properties remain popular and our pragmatic approach to underwriting has struck a chord with introducers and their clients, helping our drive for growth.
“As one borrower stated when we lent £450,000 on a £600,000 purchase in just two working days last week, ‘I’m super-impressed’.”
