Property lender completes largest customer deal with £3.6m bridging loan
Roma Finance, the Manchester-based specialist property lender, has completed its largest customer transaction with a £3.6m bridging loan.
The deal, secured in partnership with YB Financial Advisory (YBFA), was completed within a tight time frame and overcame significant challenges.
The 12-month bridge, which involves 13 securities across the UK (10 in the North and three in the South), was issued at 70% Loan-to-Value.
It was structured to enable the unnamed borrower to de-leverage its portfolio and avoid significant renewal fees as well as providing crucial breathing space for the customer to plan an exit without unnecessary financial pressure.
Roma Finance Commercial Director, Michael Allison, said: “This deal is a testament to the flexibility, resilience and problem-solving capabilities of our team, and we are delighted with the outcome.
“YBFA’s values align perfectly with our borrower-first approach to lending, and their in-depth knowledge of their customer allowed them to effectively articulate the situation and requirements.”
He added: “As with any transaction, there were several challenges, specifically around valuation that materialised during the application, but our relationship meant we were able to navigate the changes and engineer a tailored solution using our RomaFLOW product range whilst adhering to the target completion date.”
Jake Richardson, from YBFA, said: “We share a proactive approach, problem-solving mindset, and dedication to getting the deal over the line which ultimately ensured a successful outcome for the borrower.”
Legal partners were Kuits Solicitors and Harrison Drury Solicitors.
Earlier this month NatWest Bank provided Roma with a £100m funding line which will enable it to significantly scale its loan book, increasing its total lending capacity to £400m, and reinforcing its position in the bridging and buy-to-let markets.
