Specialist Hub and Roma team up for £2.1m bridging deal




Specialist Hub has worked together with Roma Finance to complete a £2.1m bridging loan for the purchase of a 20-bed HMO.

The property — located next to the clients’ £3.5m unencumbered bed and breakfast establishment — was being used by a major hotel group as a training centre, which only had permission to let 10 of the total rooms.

This restriction posed limitations to Specialist Hub in terms of which lenders could be approached for a loan.

Roma Finance agreed to provide the bridging facility at 0.9% over a 10-month term, raising 100% of the property's purchase price by taking a charge over the bed and breakfast and the HMO.

This allowed the clients to use their funds to renovate the property and then apply for a 20-bed HMO licence to allow them to obtain a term loan and exit the bridging facility.

Tony Sutton, MD at Specialist Hub, said: “Since being granted packager status with Roma, our relationship has blossomed. 

“It will often take on the cases that others shy away from, but of course, it helps that we know how to present and package a case.” 

Kirsty Botten, BDM at Roma Finance, added, “It is a pleasure to work with Specialist Hub; it packages and manages its cases to the highest standards, which always makes for a much smoother process. 

Steve Smith, national sales manager at Roma Finance, commented: “We have really hit the ground running with Specialist Hub and it is great to see how both teams have worked so effectively in collaboration. 

“Our values are very much aligned, and the relationship is firmly on an upwards trajectory.”

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