Roma Finance has launched a new ‘ground up’ development finance product as well as a commercial finance solution.
The new development finance product offers loans from £100,000 to £750,000 at a LTGDV of 60% and both ground up and part-built sites will be considered. The commercial bridging range is offered on a wide range of property types at an LTV of 60% with rates from 1.25% with no exit fee.
In addition, Roma Finance has also removed the requirement for additional security from its light, medium and heavy refurbishment range, thus providing more borrowers with options for their property projects.
Roma Finance provides bridging and development finance for a variety of circumstances such as buying at auction, conversions, refurbishments, HMOs and ground up development. In addition, the business offers buy-to-let and holiday let products and a simplified legal process with manual underwriting, to ensure a tailored approach with quick completions.
Nick Jones (pictured), commercial director at Roma Finance, said: “The growth in business at Roma Finance has been staggering and we have scaled up to ensure our service levels are maintained in line with demand. We are delighted to be able to offer these new products which have been created in response to customer and intermediary feedback.
“With strong and sustainable funding lines in place to help us keep pace with the growing demand for our products, now is the right time to launch these new products and widen the opportunity in the market.”