Roma Finance has completed its first commercial mortgage, providing a £2.4m facility to Alistructures Limited for a commercial site in Market Harborough in 25 working days.
The milestone transaction comes the month after Roma launched its commercial mortgage offering and follows the announcement of its new forward-flow funding agreement with J.P. Morgan in June, marking another significant step in the lender’s expansion into longer-term property finance.
The 15-year facility, which has a five-year fixed rate of 8.52%, was provided at 63% gross loan-to-value (LTV) against a market value of £4.2m. The transaction refinances an existing Roma development facility and provides Alistructures with longer-term funding for the completed commercial asset.
The Hermitage Works Business Park, located just outside Market Harborough on Desborough Road comprises several offices and the new commercial building. The site is currently 80% let, with tenants ranging from a Trackman golf simulator, is home to East Midlands Martial Arts and a new Transform Hub gym. Three units are still available and are being marketed for rent through BTG Eddisons or subject to negotiations with prospective tenants.
Alistructures Limited, which operates in the construction and rental of commercial buildings, has an established track record in property investment and development. The business originally approached Roma in 2024 for development finance to transform the site from a semi-derelict former farmyard, into its current configuration.
The new commercial mortgage enables the company to move from development finance onto a longer-term funding structure now that the site has been redeveloped and is generating rental income.
The transaction also provides an early example of Roma’s wider approach to supporting customers as their funding requirements evolve, with the same lender providing the development finance and subsequent longer-term commercial mortgage. It also demonstrates Roma’s ability to take a flexible approach for the right borrower, looking beyond the immediate funding requirement to understand how it can support the customer over the longer term.
Michael Allison, Commercial Director at Roma Finance, said: “It’s a particularly significant transaction for us because it’s our first commercial mortgage completion, coming so soon after we launched the product. We’ve been working hard behind the scenes to build the capability and funding infrastructure to support longer-term commercial lending, so seeing that come through into a completed transaction is fantastic for the team.
“What’s equally important is the journey behind the deal. We originally provided the development finance for this site, and we’ve now been able to support the customer again with longer-term funding as the asset has reached the next stage. Being able to work in collaboration with the broker, with the same customer across different stages of their property journey is exactly the kind of longer-term relationships we want to build at Roma. It shows the benefit of taking a flexible, brokers and customer-focused approach and understanding what the borrower is ultimately trying to achieve, rather than looking only at the immediate funding requirement.
“It’s been a hugely productive few months for Roma, following the announcement of our J.P. Morgan forward-flow agreement in June, the launch of commercial mortgages and now our first completion. Completing this deal in just 25 working days is another great result for the team and demonstrates that longer-term finance doesn’t have to mean losing the speed and responsiveness that customers value from Roma. There is a lot more to come, but this is a great example of what we’re building.”
Seymour Guinness, Director of Alistructures Limited, said: “Roma understood the property and our plans from the outset, having supported us with the development finance. Being able to move onto longer-term funding with the same lender has made the process much more straightforward and gives us certainty over the next stage of the investment.
“The development has transformed the site and it’s now generating a strong rental income, so the commercial mortgage provides the right funding structure for where the property is today. Having Roma involved through both stages has been a real benefit.”
The completion represents the latest development in Roma Finance’s expansion into longer-term commercial property finance, and complements its existing bridging and development finance capabilities which creates a clear funding pathway that can potentially allow customers to remain with the same lender as their property and funding needs progress. It also enables brokers to continue supporting their clients from one stage to the next, while giving Roma the opportunity to build longer-term relationships beyond an initial funding requirement.
Roma’s commercial mortgage offering provides funding of up to £2m and lending of up to 70% LTV, with fixed-rate and longer-term funding options available.
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