Roma Finance has made changes to its RomaFLOW process, which has helped double the size of the lender’s book since launch.
The lender has also said there would no increase to rates despite the Bank of England base rate increase. Rates with Roma start at 0.59%.
RomaFLOW, which speeds up Roma’s bridging and auction application to completion process, will now be available on light refurbishment products. In addition, Roma is introducing electronic signatures to speed up the process further.
The streamlined processing channel has fewer stages, reduced documentation and improved technology to help move cases smoothly to offer and completion. Roma claims the channel means 80% of bridging cases are completed in under 28 days.
On “straightforward” cases, solicitors will be instructed within 24 hours.
Steve Smith (pictured), sales director at Roma, said: “We announced that speed was back with RomaFLOW in September 2021. We’ve worked really hard to maintain this improved process for straightforward cases and continue to enhance it.
We know that brokers love Roma for our lending less ordinary approach but speed continues to be a major factor in the bridging market. We love to lend and are delighted we can now offer an enhanced RomaFLOW and also on more products.
“Brokers don’t need to do anything different. Just send in the case and, unless it’s particularly complex, we’ll put it into RomaFLOW and provide brokers and borrowers with much quicker turnaround times.”