- Loan amount: £319,500
- Term – 36 months
- Current Market Value – £530,000
- GDV – £550,000
Roma Finance has completed its first RomaPRO Revolving Credit Facility (RCF) just a week following the solution launch. This facility has been provided to an experienced landlord who plans to use their new powerful and flexible position to purchase auction properties over the next 36 months. This facility enables the borrower to move quickly and decisively when opportunities arise, with drawdown funding available in just 48 hours.
The borrower, who currently owns five properties with a combined value of £1.8 million, four of which are fully let, has a strong background in purchasing and renovating auction properties for rental income. Recognising the need for speed and certainty in the competitive auction environment, they sought a funding solution that would allow them to act immediately when the right property became available.
The facility has been secured on two of the five owned properties and is ready to be utilised at their discretion. This ensures they can seize opportunities as they emerge, without the need for time-consuming refinance applications or reassessments for each purchase.
The RCF offers significant advantages for portfolio landlords, combining speed, flexibility, and cost-efficiency. Immediate access to funds means faster completions, while the ability to draw down as needed allows borrowers to tailor funding to each project.
The borrower has already drawn down twice on the facility to aid auction purchases in Wales.
Shane Francis, the underwriter who worked closely on the case, commented, “As Roma’s first RCF case, it was exciting to navigate the new criteria and systems. In this particular case, the RCF structure is a perfect fit for the borrower, offering the flexibility and speed needed to capitalise on investment opportunities without hesitation.”
