Roma and Pepper Money update products

Roma Finance and Pepper Money have announced new changes to their specialist finance offerings.

Roma Finance

Roma Finance has enhanced its bridging and development criteria to support commercial and development offerings.

The lender has upped its maximum LTV for semi-commercial and commercial bridging to 70% and 65%, respectively.

Land with planning purchase facilities have been increased to 55% LTV, while the maximum LTGDV for development works net with fees has risen to 60%.

In addition, second-charge bridging lending is now available to assist with purchases at up to 65% LTV, based on OMV.

Steve Smith, national sales manager at Roma Finance, said: “These criteria enhancements have been made to support the increasing commercial opportunities available and the growing development market.”

He added that the finance provider is continuing its recruitment across all business teams to ensure service levels are maintained and enhanced. 

Pepper Money

Pepper Money has launched a limited edition BTL product at its lowest ever rate.

The Pepper 60 BTL option offers loans between £25,001 and £1m, up to 75% LTV, and at 3.13% on five-year fixed terms.

The product is available to individual or limited company borrowers and carries a flat 2% completion fee.

Paul Adams, sales director at Pepper Money, said: “We aim to make mortgages more inclusive to a broader group of customers. 

“To achieve this, we have built our lending criteria and underwriting to meet the needs of customers who are lesser served by the high street. 

“This includes those who are self-employed, earn irregular income or income from multiple sources, customers with a thin credit file or adverse credit, first-time buyers, and BTL investors.

“It also means making our pricing as competitive as possible so that our mortgages are accessible to an even larger group of customers.”

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