Bridging lending Roma Finance has achieved a record quarter for completions, with fundings up by 38% year-on-year in Q2.
It is the third consecutive month that Roma has achieved record levels of completions. The results follow a record high for redemptions in Q1.
Roma’s trajectory of growth is set to continue in light of the strength of its pipeline, which is at its highest level in value and volume, driven up by demand for bridging and development solutions. Repeat business also continues to increase.
Michael Allison (pictured), commercial director, said, “I am thrilled to report these fantastic results, which clearly demonstrate the quality of our sales, underwriting and customer services teams. Roma is progressive and people-focused, with everyone collaborating to achieve the business’s goals and a premium service. The levels of repeat business, recommendations, and referrals we continue to receive are testament to this. We continue to evolve and there are going to be more exciting developments this year.”
Around 62% of bridging industry figures expect annual origination volumes in the market to grow, a report has found.
Almost 47% said they expected competition to grow and 62% said they expected the average monthly interest rate on loans to fall.
The findings were published in the inaugural Interpath and Bridging & Development Lenders Association’s (BDLA’s) Bridging Market Survey, which surveyed around 50 figures from across the industry.
Samantha Partington is a freelance trade and consumer journalist writing about property and personal finance. Previously she worked worked for the Daily Mail and Property Week. She is the former deputy editor of Mortgage Solutions and editor of Specialist Lending Solutions.
Before becoming a journalist, Samantha worked as a mortgage broker and latterly for a mortgage, bridging and secured loan lender. Samantha is CeMAP qualified. Follow her on Twitter @SamJPartington1.
