The lending facility is worth £120 million
Roma Finance, a loan provider, has announced a new £120 million lending facility in partnership with The Cambridge Building Society.
“The extension of our partnership with The Cambridge Building Society marks a very exciting time in our business and is a major step forward in our vision,” said Scott Marshall, founding and managing director of Roma.
“Roma has an incredibly strong working relationship with all of its funding partners and The Cambridge Building Society is no exception,” he added.
“We are delighted to have agreed this new facility with Roma,” said Carole Charter, chief commercial officer at The Cambridge Building Society.
“They are focused entirely on the interests of their borrower and we have been highly impressed with their track record for repeat business and successful redemptions,” she added.
What does the new lending facility entail?
The facility will be focusing on bridging loans, development finance and specialist buy-to-let mortgages. It will also be geared to support landlords who would like to expand their property portfolios.
The new line will provide further security and flexibility for broker partners and borrowers. It has also led to the launch of a host of short-term lending products within the market this month and will be followed by buy-to-let products soon.
“We believe this to be the largest-ever funding agreement between a building society and a non-bank lender in the UK and we are already seeing firm demand for these new products. I’m looking forward to supporting more great customers in building their property portfolios,” said Marshall.
“We are wholly aligned as organisations and I am very enthusiastic about the future of both our businesses and the partnership,” added Charter.
Roma is still in pursuit of reaching its goal of having a £350 million loan book.
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