Roma Finance updates bridging and development criteria
Roma Finance made a number of changes to its bridging and development criteria to support commercial and development offerings.
The new criteria sees an increase of the loan-to-value (LTV) to 70% on semi-commercial bridging and 65% on commercial.
Additionally, second charge lending is now available to assist with purchases at up to 65% LTV of Open Market Value.
Land with planning purchases has been increased to 55% LTV and Roma can now offer 60% LTGDV for development works NET plus fees.
Steve Smith (pictured), national sales manager at Roma Finance, said: “These criteria enhancements have been made to support the increasing commercial opportunities available and also the growing development market.
“We are continuing to see significant growth across the board in all areas and believe these new enhancements will further stimulate this.
“We are continuing to recruit across all business teams to ensure service levels are maintained with the goal of enhancing these too. We have some very exciting times ahead.”