Roma Finance, the bridging finance lender, has reduced the rate on its already market-leading three month bridging product to just 0.44% per month. Facilities are available for up to 75% LTV on residential investment first charge bridging cases.
The new product will suit introducers who have customers looking to acquire buy to let properties, complete HMO conversions, undertake property renovations, buy investment properties at auction or are looking to purchase un-mortgageable residential investment properties.
Roma’s common sense underwriting, pragmatic approach and new Fast Track service which sees most cases completing within 15 days (compared to the current industry average of forty three days reported on Bridging Trends).
Scott Marshall, Managing Director, commented: “This new market-leading offer is ideal for introducers who are experiencing delays with other lenders and it will help them to move residential investment property projects to completion. Our new Fast Track lending process will also help introducers to complete more cases more quickly and is already proving to be a big success with over 70% of cases completing within just fifteen days.
“As we cater for most types of residential investments, our bridging loans can be used to acquire un-mortgageable properties as well as to carry out renovations and change of use.
“We’ve not only launched what we believe to be the best rate in the market for this type of finance but also pay generous commissions.”