Roma Finance has expanded its long-term lending range with the launch of a semi-commercial mortgage product offering loans of up to £2m.
The new product is available at up to 70% loan-to-value, with a fixed rate option of 7.99%, alongside other rate options.
Available across England, Scotland and Wales, the range is designed for mixed-use investment and owner-occupied properties containing both residential and commercial elements.
The launch follows Roma’s move into commercial mortgages and forms part of the lender’s expansion into longer-term finance following its forward-flow funding agreement with J.P. Morgan.
LONG-TERM FUNDING EXPANDS
Roma says the product is intended to provide brokers with a dedicated longer-term funding option for semi-commercial properties, which can require a different approach because of their combination of residential and commercial uses.
The lender has also established a dedicated commercial underwriting team this year as it builds its presence in the commercial property market.
The latest launch broadens a proposition that already spans bridging, development finance and longer-term mortgages.
‘MORE CONNECTED’
Michael Allison (main picture), Commercial Director at Roma Finance, says: “Mixed-use property has always been an important part of the specialist lending market, but these assets can require a more considered approach because they sit across both residential and commercial lending.
“Our new semi-commercial product gives borrowers a dedicated long-term funding option for these cases, while also building on the wider lending capability we have developed over the past year to give brokers another option when structuring finance for customers with mixed-use property requirements.
“The bigger picture for us is about making the funding journey more connected. Whether a customer is acquiring an asset, carrying out works or looking to retain an investment for the longer term, we want to be able to support them as their requirements develop.”
