Roma Finance reduces rates and raises LTVs across range

Roma Finance has announced it is cutting rates and increasing LTVs and loan amounts across its product range.

The bridging, buy-to-let (BTL) and development finance lender said its standard rate for residential investment property bridging has been reduced to 0.65% per month with no exit fee and a maximum LTV of 70%. Loan terms are three to 12 months.

Refurbishment rates have also been cut, now starting at 0.85% with an LTV up to 70%, Roma Finance revealed.

The lender’s recently introduced development finance product now has rates available from 1.00% per month for sites of up to six units, with a maximum term of 18 months. The commercial bridging solution, launched at the same time, is now available with rates from 1.10% and an increased LTV of 60%.

Roma Finance also announced that maximum loans sizes have been increased to £3m while exit fees have been removed from the majority of the range.

“With increasing distribution and support from our funding lines to help us keep pace with the growing demand, now is the time to ensure we have the right criteria and solutions to meet the appetite for growth within the business,” said Roma Finance commercial director, Nick Jones.

“Business levels have grown significantly and we are maintaining the upwards trajectory. We are continuing to expand the Roma Finance team and the new lower rates will further stimulate our business in a focused and strategic way and we will continue to deliver excellent service to our intermediary partners and customers.”

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