Following the announcement of a new multi-million pound funding line, Roma Finance is passing this cheaper cost of funds on to its borrowers.
The Manchester-based bridging finance and development lender has unveiled lower rates across all its products.
Meanwhile, loans secured on residential and semi-commercial properties now do not have an exit fee.
The new products have also been designed to fuel the company’s growth and expansion and Roma Finance says it is keener than ever to continue to lend on viable property projects.
As well as rate cuts on all loans, there are no exit fees on all but commercial property and for residential investment property purchases the LTV has been increased to 75% (100% LTV and above available with additional security).
The new range is designed to suit HMO conversions, property renovations, auction purchases and unmortgageable properties.
The company will lend to those who are employed, self-employed, companies, partnerships and sole traders with all types of credit history considered.
Scott Marshall (pictured), managing director of Roma Finance, said: “The new products and lower rates will help ensure we are well placed to take advantage of current opportunities in the post-Brexit bridging finance market and will allow us to further develop our business and establish new partnerships.
“This has already been a very exciting year for Roma Finance as we are on course to triple the size of our loan book for the second year running; we’re moving to a larger office and have recruited very high calibre people.
“We have also grown the number of introducer relationships and are confident they will be excited with these new product innovations which should allow them and us to win more business.”
