Roma Finance cuts product rates

The standard rate for residential investment property purchases or refinancing has been reduced to 0.75% per month up to 75% LTV on loan terms between 3 to 12 months with no exit fees.

For partly built development sites, rates are now available from 0.79% per month for sites of up to 5 units where the properties have already been made watertight. Loans sizes start at £100,000 with a maximum term of 18 months.

Roma says further funding lines with Royal Bank of Scotland and Cambridge Building Society have recently been secured to provide for an increase in business levels.

Scott Marshall, managing director at Roma Finance, said: “With new and sustainable funding lines in place to help us keep pace with the growing demand for our products, now is the right time to cut rates for our priority business lines.

“To cope with higher business levels we continue to expand the Roma team and we are seeing growth in our lending for property acquisition and refurbishment. The new lower rates will further stimulate our business in a focused and strategic way and we will continue to deliver excellent service to our introducers and customers.”