Shout if you want to finish your property development project on a lower rate.
Development projects are normally the most complex in property lending and the most expensive. At Roma, we offer a developer exit solution, meaning once a project is wind and watertight…. So the roof, windows and door are on, we can enable your customer to finish it off on a bridging loan.
This works on our customer for life solution where a property developer can exit a Roma development finance loan onto the bridge or purchase a part built site or even move the finance from another lender to us. The ultimate goal is for your customer to make as much profit as possible from the development and this product is a method to do this!
We can consider a variety of property types, constructions, credit profiles and income levels, and can offer both first and second charge bridging loans. We really do love to lend.
- Loans from £75,000 to £3 million
- LTV up to 75%
- Competitive rates and terms
- No exit fees
- Intelligent touch underwriting for quick decisions and completions
- We lend across England, Scotland and Wales
- Clear communication throughout the life of your finance
Got a question? We have answers.
Developer exit lending, commonly called a development exit loan is a short term finance option that enables a property developer to refinance, usually at a lower rate than their initial development finance facility. Development projects qualify for developer exit funding when they are wind and watertight. This funding allows developers to release equity and also save on interest payments due to a lower rate.
GDV stands for Gross development Value. It is an estimate of the open market value or rental value a property development is likely to have on completion. It is determined on the basis of current and recent similar transactions.
Roma considers development finance up to £3 million although larger loans can be considered by referral.
Six steps from enquiry
to completion
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Over many years of arranging bridging finance, the Roma team is continually refining the process to make it hassle-free and responsive. Above all to make it quick and slick, because property deadlines are tight deadlines.
It takes a team who love to lend to fast-track cases, twin-track the legals and the underwriting… do whatever it takes to drive the sale forward.
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Yet no matter how rapidly we’re working, we always take the trouble to understand what makes each case different, and keep everyone informed at every stage.
Need to complete within 48 hours? We can run stages 2 – 5 simultaneously, and may even release funds to our solicitor before the due diligence process has been completed.
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1. Initial enquiry
Call us on 0161 817 7480, email or complete the enquiry form and your loan is on its way.
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2. Agreement in principle
The AIP accelerates the process by telling you exactly what we need before we can underwrite your loan, also providing Open Banking instructions.
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3. Valuation instruction
We’ll get a third party valuation arranged ASAP, and get to the underwrite so we can confirm the terms in writing as quickly as possible.
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4. Instruct solicitors
As soon as the terms have been accepted, we instruct our solicitor to send the legal papers to yours. This is even quicker when the case benefits from dual legal representation.
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5. Completion
Funds are released, so nothing delays the deal.
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6. Loan service
Your customer service representative will be in touch to explain what happens next and how to manage the loan through to redemption.
For the ‘Borrower First’ experience. Because every application is different.
At Roma Finance we understand that every property transaction is unique. That’s why we put flexibility and service at the forefront of everything we do. Tell us what kind of finance you need and we’ll find a way to make it happen.
- Fast: most bridging cases completed within 28 days
- Flexible: lending for every property type
- Simple: we have reinvented and streamlined the legal and underwriting process
- Trusted: we value integrity, and customers keep coming back
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Our intermediary team
is ready when you areSimply select your region and you’ll meet the vastly experienced experts whose job it is to make your job easier.
- North of England & Scotland
- North West & North Wales
- South West & South Wales
- Midlands
- South East
We have a 'Borrower First' philosophy; we #LovetoLend
