Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Roma Finance Launches Semi-Commercial Mortgage Range for Mixed-Use Property
Roma Finance has expanded its long-term mortgage proposition with a semi-commercial mortgage product for mixed-use property. The lender says the move forms part of its strategy to offer options across the property investment lifecycle.
The new offering is available on loans up to £2m, with a maximum loan to value (LTV) of 70% and a fixed rate of 7.99%. Roma Finance also offers other rate options for property investors and business owners across England, Scotland and Wales.
Why it matters for the lettings sector
Mixed-use assets — properties combining residential and commercial elements — are a common feature of the specialist lending market, and landlords and investors holding such properties often need long-term funding tailored to their dual nature. The new product gives borrowers a dedicated long-term funding option for these cases, according to the lender.
Part of a wider lending push
The launch follows Roma Finance's forward flow agreement with JPMorgan, which the lender says will enable it to provide brokers with solutions for their property investor and owner clients. The product complements Roma Finance's existing bridging, development and mortgage products, and follows the recent launch of its commercial mortgage proposition.
Michael Allison, commercial director at Roma Finance, said mixed-use property has always been an important part of the specialist lending market, but these assets can require a more considered approach because they sit across both residential and commercial lending. He added that the new product builds on the wider lending capability the firm has developed over the past year, giving brokers another option when structuring finance for customers with mixed-use property requirements.
Allison also said the bigger picture for the lender is about making the funding journey more connected, whether a customer is acquiring an asset, carrying out works or looking to retain an investment for the longer term.
Source: Mortgage Solutions