- Loan amount: £128,250
- RomaFLOW auction purchase
- 12 day completion
- Term: 6 months
Roma Finance was approached by one of our key intermediary partners, Connect IFA, to support a borrower on an auction purchase of a 3-bed standard residential property.
The borrower is an experienced property investor who has an established property portfolio behind them.
Due to the nature of the purchase, Roma was able to complete this case in only a matter of 12 days, with the support of our fast and efficient bridging channel, RomaFLOW, where we aim to complete all auction purchases within 28 days.
Despite the circumstances surrounding the economy at the time of funding, this was a positive outcome for all and was an exceptionally smooth transaction.
Kai Shahban, Underwriter at Roma Finance commented “This case was an absolute pleasure to deal with from submission to completion. Our borrower was co-operative, easy to communicate with and passionate about their project. The broker was extremely thorough in their due diligence, providing a well packaged case with quick responses to additional queries. With all parties collaborating regularly and effectively, we managed to meet the auction deadline; completing in just 12 days – a fantastic achievement for all involved and a true testimony to the fact that we love to lend!”
Asher Yousaf, Mortgage and Protection Adviser at Connect IFA also added “I just wanted to say a huge thank you to Mark Foley, Kai Shahban and Olivia Openshaw who worked alongside me in order to complete on this auction purchase. Getting it across the line such a tight timescale was fantastic, and the team truly are an asset to Roma Finance!”
Their exit strategy is to add the property to their existing portfolio and rent it out.
