Roma Finance offers bridging from 0.95% after rate cuts
Roma Finance has slashed its product rates – as its residential first charge investment product now stands at 0.95% per month following a reduction of 0.25%.
The Manchester-based bridging lender is also offering a second charge option at 1.1% and a semi-commercial at 1.05% following rate cuts.
In addition Roma Finance has removed the requirement of an exit fee on its loans secured on residential and semi-commercial properties.
Scott Marshall, managing director of the lender, 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.”
The lower rates come courtesy of a new multi-million pound funding line in place which provides a cheaper cost of funds.
The lender has also upped the maximum loan-to-value on its residential investment property purchases to 75% LTV, though 100% LTV and above is available with additional security.