Case File:

  • Roma Finance provides £100k in two tranches
  • £50k for purchase and £50k (100%) for conversion costs
  • Property was a kitchen workshop unit converted to residential use under Permitted Development Rights
  • Roma spotted and took a view over a rights of way issue
  • Loan introduced by Brightstar Bridging

The borrowers bought a single storey kitchen workshop unit in a popular Hertfordshire town, with a view to converting it into a one bedroom, one bathroom residential buy to let.

The borrower, introduced through Brightstar Bridging, paid £85,000 for the workshop and the plan was to convert it into a very conveniently located residential property under Permitted Development Rights. The conversion works were estimated at £50,000.

In all, Roma Finance provided two tranches of bridging finance; £50,000 towards the purchase and the same amount for the full cost of the renovation work. The property is now on the market at £220,000, which should realise a substantial profit for the borrowers, who are already talking to Roma Finance about their next project.

As they do on all of their cases, Roma Finance undertook a site visit to better understand the case. They viewed some other projects the borrowers had been involved with and were satisfied they had a credible proposition and experience of successfully renovating property.


During the legal process, it was discovered there was a right of way at the back of the workshop for deliveries.

The reason this became so important was that this legal access right fell away on conversion to residential use. However, because of the site visit and understanding of the geography surrounding the property, it was clear that in practical terms access to the property would not be compromised and so Roma took a ‘common sense’ approach and released funds.


Scott Marshall, Lending Director at Roma Finance, commented: “This case highlights the importance of the site visit to thoroughly understand the legal issues that can crop up when underwriting a case. We knew that this was a good property in an excellent location with a high return for the borrower, so we made every effort to resolve the right of way easement and I’m happy to say these concerns were answered by our expert team.”


Kit Thompson at Brightstar Bridging said: “Roma Finance provides exceptional service to our borrowers and to ourselves. Not only did they take a sensible approach on a potentially material issue but post completion our borrower asked for the loan structure to be reviewed. To their credit, Roma Finance looked at the case again and made it more viable for our borrower. Sometimes it’s how a lender reacts when things don’t go to plan that defines them, and Roma Finance delivered solutions to the borrower and us as brokers. That’s why they are a broker’s lender.”

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