Roma Finance expands BTL offering
Roma Finance has added to its long-term buy-to-let (BTL) proposition, introducing new fixed rate products alongside its existing five-year variable offering.
The range offers two- and five-year fixed rates, with terms of up to 25 years and lending up to 75% loan to value (LTV). Loans are available from £75,000 to £2m, with total individual exposure of up to £3m.
Roma Finance looks to broaden its funding proposition for professional property investors. The lender said these products give customers more opportunities to work with it as funding needs change over time.
Rates in the standard BTL range start from 5.89% for two-year fixed products and 6.59% for five-year fixed products, both with a 5% product fee. Lower-fee alternatives are also available.
For houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs), rates start from 6.69% for two-year fixes and 6.79% for five-year fixes, with product fees of 3% or 5%.
Michael Allison, commercial director of Roma Finance, said the expansion builds on its vision for a more connected mortgage proposition: “We see long-term lending as an important part of Roma’s future growth. So far, our reputation has come from our performance and service in the bridging and development finance arena, but we see the expansion of our mortgage proposition, building on our expertise and creating a more connected offering as being vital to our future success.”
Episode 6: What’s next for the industry? : Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries
Allison added: “Adding two-year fixed rate options to our existing five-year buy-to-let variable offering is another step in that development. Alongside our commercial and semi-commercial mortgages, it strengthens the long-term side of our business and gives us a broader platform to build on.”
