Roma Finance provides 100% funding for semi-commercial acquisition

Roma Finance provides 100% funding for semi-commercial acquisition

Roma Finance has provided a £776,000 bridging loan for the acquisition of a semi-commercial property in Bristol.

The customer — which was introduced to the specialist lender by Prospero Finance — plans to convert the whole of the building into five self-contained residential flats.

Roma Finance took on another residential property as additional security, which has given the customer 100% funding for the purchase.

The loan was provided over a 12-month term, with the exit being development finance so that the property can be converted into flats.

“The semi-commercial property will be converted in due course and I’m sure this will be a successful development for the customer,” said Daniel Hill, divisional sales manager at Roma Finance.

Martin Smedley, director at Prospero Finance, added: “We received excellent service from Daniel Hill, Samantha Williamson and the team at Roma Finance along with our own Liz Pleasant and Richard Spencer of Converse Law.

“They enabled the clients to get the keys to the property in under two weeks from obtaining the agreement in principle.”

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