Roma Finance has launched a buy-to-let product in Scotland, extending a proposition that is already established in England and Wales.
The specialist lender, which has an existing presence north of the border through its bridging and development finance activity, will now offer buy-to-let funding to landlords and property investors in Scotland for the first time.
The Scottish buy-to-let product will be available up to a maximum loan size of £750,000, with lending of up to 75% loan-to-value. It will support a range of property types, including standard buy-to-let, portfolios, houses in multiple occupation and multi-unit freehold blocks.
In keeping with Roma Finance’s underwriting approach, the product also allows for top slicing, enabling an applicant’s personal income to be taken into account where rental income alone does not meet affordability stress testing requirements.
Alongside the buy-to-let launch, Roma Finance is also introducing its revolving credit facility in Scotland, offering loans of up to £750,000.
The facility, which launched in England and Wales in April last year, provides approved borrowers with access to a pre-agreed credit limit that can be drawn down, repaid and reused for onward property purchases.
Collectively, the two launches represent a further expansion of Roma Finance’s lending activity across the UK.
Sonia Mann (pictured), head of sales at Roma Finance, said: “Scotland has always been an important market for us, so it makes sense to expand our buy-to-let offering here.
“We already work closely with brokers and developers, and this launch means we can do more to support landlords and investors.
“By lending up to 75% LTV across different property types, and offering top slicing where it helps, we give brokers the ability to keep deals moving in a tricky market.
“It’s about practical, flexible lending from people who know the local market.”
