Roma Finance, the bridging finance lender, has announced a special spring rate of 0.75% per month and up to 75% LTV on residential investment first charge bridging cases that complete by 31st May.
A tranche of £15m is available for introducers, who also get a commission of 1.5%.
Product details for the offer are as follows:
- 0.75% per month
- Up to 75% LTV (more with additional security)
- No exit fees
- First charges on residential properties
- Loans from £100k - £500k
- 6 month term with interest deducted
- 1.5% commission
- No re-bridges
- Cases must complete by 31st May
The offer will suit introducers who have customers looking to acquire buy to let property, complete HMO conversions, undertake property renovations, buy investment property at auction or are looking to purchase unmortgageable residential investment properties.
Roma’s common sense underwriting, pragmatic approach and excellent service will, as always, be applied to loans qualifying for the offer. There is also minimal packaging required from introducers to progress cases. Agreements in Principle can be issued within one working hour of enquiry and completion can happen within 48 hours of solicitors being instructed.
Scott Marshall, Managing Director, commented: “This is a great offer for introducers who are experiencing delays with other lenders and it will help them to move residential investment property projects to completion. As we cater for most types of residential investments our bridging loans can be used to acquire unmortgageable property as well as to carry out renovations and change of use.
“We’ve not only reduced the rate for a limited time but are offering a fair commission of 1.5% as we look to build long term relationships with even more introducers looking to assist their customers.”
"As we cater for most types of residential investments our bridging loans can be used to acquire unmortgageable property as well as to carry out renovations and change of use. "
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