Roma Finance increases LTV to 70% on bridging finance
Bridging, buy-to-let (BTL) and development finance lender Roma Finance has increased its loan-to-value (LTV) to 70% on residential bridging finance and 65% on semi-commercial.
This is a 5% increase on previous products and follows the news that physical valuations can now take place again.
Roma Finance recently relaunched back into the market with automated valuation model (AVM) and desktop valuation products, which will remain available.
The maximum LTV on the Roma Finance BTL range will remain at 75%.
The volume of business submitted to Roma Finance in recent weeks has also allowed the unfurloughing of a significant number of its sales team.
Scott Marshall, managing director at Roma Finance, said: “We are delighted we are taking another important step in this challenging time.
“The pandemic has given businesses a new perspective on continuity and innovation.
“Adaptation is essential and we will continue to be proactive and support brokers, customers and the overall industry.
“I am proud of our transparency and the way in which the Roma Finance team has supported all our stakeholders including customers, brokers, solicitors, monitoring surveyors and valuers throughout this challenging period.
“Furthermore, I am delighted with our agility in the steps we have taken to date as we continue to remain at the forefront of the market.”