Roma Finance has launched a fast new channel for cases it deems as being straightforward.
The lender claims that RomaFLOW will “significantly” speed up the application to completion process and make submissions easier for brokers.
The new processing channel has fewer stages, reduced documentation and technology to help move cases smoothly to offer and completion.
Standard bridging cases submitted to Roma will now automatically go into the RomaFLOW process, unless the broker or borrower highlights any complex circumstances or challenges at the outset.
Complex cases and heavy development applications will remain in a separate stream, where Roma’s underwriters will spend longer before making a lending decision.
Roma requires three things from brokers on submission and will use technology to do the rest. On straightforward cases, solicitors will be instructed within 24 hours, Roma said.
Michael Allison, head of transformational change of Roma Finance, said: “Speed is back with RomaFLOW. We’ve worked really hard to create this improved, smoother process for straightforward cases so we can give brokers and customers the fast service they demand.
We know that brokers love Roma for our lending less ordinary approach and the fact we lend with integrity. But we also recognise they need certainty and speed. That’s what we’re giving them with RomaFLOW.
“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 you with much quicker turnaround times.”
Steve Smith, national sales manager at Roma, added: “The pandemic and Brexit has affected speed in the industry across the board. Knowing this is a major issue, I am really proud of the Roma team and their tireless efforts to bring RomaFLOW to fruition.
Our dedication remains to our brokers and customers, ensuring they receive the best possible experience and we look forward to delivering RomaFLOW to everyone as standard.”
