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TODAY'S OTHER NEWS

Special bridging rate launched by Roma Finance

Bridging finance lender Roma Finance is launching a special 0.75% bridging rate until Valentine's Day.

The firm has announced a special time-bound offer on residential investment first charge bridging of just 0.75% per month up to 75% LTV.

Introducers, however, have been warned to act quickly, with a fund of £10m available until February 14. Bridging finance on the above terms will only be available where funds are allocated before the day of Cupid, flowers and cards. 

As well as a rate of 0.75% per month up to 75% LTV (or more with additional security), the offer also includes no exit fees, first charges on residential properties, 6-month term with interest deducted, no re-bridges and loans ranging from £100,000 to £500,000.

The product is aimed mostly at buy-to-let, auction purchases and unmortgageable residential investment properties, as well as HMO conversions and property refurbishments. 

“This can be a slow time of year for introducers and property developers and this special offer will allow many more residential investment property projects to be funded to completion,” Scott Marshall, Managing Director of Roma Finance, said.  

“For those who are experiencing delays with other lenders this is also an ideal offer to move to the finishing line with stalled conversions and renovations.”

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