Roma Finance launches bridging products and advance auction solution
Bridging, buy-to-let (BTL) and development finance lender Roma Finance has launched bridging products at 70% loan-to-value (LTV).
It has also introduced a standard bridging product at 70% LTV with no exit fee and rates from 0.95%, and an automated valuation model (AVM) auction product, where no physical valuation is required, at up to 65% LTV.
With this product, investors can obtain an AVM valuation ahead of an auction, providing them with a ceiling price for bidding and thereby giving them confidence that finance has been secured in advance.
Scott Marshall (pictured), managing director at Roma Finance, said: “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 improve LTVs for our priority business lines.
“To cope with higher business levels we are continuing to expand the Roma team and we are seeing tremendous growth in our lending for property acquisition and refurbishment.
“The new products and lower rates will further stimulate our business in a focused and strategic way and we will continue to deliver excellent service to our introducers and customers.”