Roma Finance has announced a new £120m lending facility with the Cambridge Building Society.
The new £120 million facility is for bridging loans, development finance and specialist buy-to-let mortgages, and is designed to support landlords who wish to expand their property portfolios.
This new line has led to the launch of new short-term lending products into the market this month, with buy-to-let products to follow.
Roma Finance and the Cambridge Building Society have been collaborating since 2017.
Scott Marshall (pictured), founder and managing director of Roma, said: “The extension of our partnership with The Cambridge Building Society marks a very exciting time in our business and is a major step forwards in our vision. Roma has an incredibly strong working relationship with all of its funding partners and the Cambridge Building Society is no exception.
“We believe this to be the largest-ever funding agreement between a building society and a non-bank lender in the UK and we are already seeing firm demand for these new products. I’m looking forward to supporting more great customers in building their property portfolios.”
Carole Charter, chief commercial officer at the Cambridge Building Society, added: “We are delighted to have agreed this new facility with Roma. They are focussed entirely on the interests of their borrower and we have been highly impressed with their track record for repeat business and successful redemptions.
“We are wholly aligned as organisations and I am very enthusiastic about the future of both our businesses and the partnership.”