Roma and Landbay update product suites



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Roma Finance and Landbay have refreshed their product ranges.

Roma Finance

Roma Finance has launched new bridging and development offerings with improved rates and enhanced criteria.

The RomaPrime bridging suite has been designed for borrowers with a prime profile and properties of traditional residential construction.

It applies to standard bridging, auction finance and light refurbishment, covering a wide number of property projects.

Rates start from 0.60% for standard bridging, 0.70% for auction up to 75% LTV, 0.80% for refurb up to 70% LTV and 0.70% for development exit bridging.

Meanwhile, the RomaPro development range has been created for borrowers with a prime profile who are looking to complete larger development projects of up to £5m, with rates from 1% and terms of up to 18 months.

The existing bridging and development products remain in place for more complex circumstances.

Steve Smith, national sales manager at Roma Finance, said: “With strong and sustainable funding lines in place to help us keep pace with growing demand, now is the right time to launch these new products. 

“To cope with higher business levels, we are continuing to expand the team and are seeing incredible growth in our lending for property acquisition, refurbishment and development.  

“The new products and lower rates will further stimulate our business in a focused and strategic way, and we will continue to deliver excellent service to our intermediaries and customers.”

Landbay

Landbay has reduced the rates on its core products by up to 0.24 percentage points.

It has also cut rates on its green BTL mortgage by up to 0.14 percentage points, available at 2.99%.

The lender now offers MUFB mortgages for first-time landlords, with rates starting at 3.49% — this joins the new HMO products for first-time landlords launched last week.

In addition, Landbay has introduced a large 65% LTV five-year cashback product at 3.24%.

Paul Brett, managing director for intermediaries at Landbay, commented: “We constantly look to revise our range to make sure that it is highly competitive across every type of specialist BTL  mortgage. 

“With our new competitive green products, plus MUFB and HMO mortgages for first-time landlords, as well as an attractive standard and new-build range, we believe that we have something for every landlord.”

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