Specialist lender Roma Finance has agreed a forward flow with JPMorgan to support its long-term lending capabilities.
The partnership will help Roma expand its product suite and launch long-term buy-to-let (BTL) and commercial mortgages, with terms up to 40 years on fixed terms of two, five and seven years.
The lender has also launched a commercial and semi-commercial mortgage proposition for owner-occupied premises, investment properties and property company/operating company structures across a range of use classes in England, Scotland and Wales.
It said the new products would also support its ambition to become the UK’s largest unregulated non-bank property lender.
Roma Finance said the changes represented its evolution from a solely bridging and development finance specialist into a full lifecycle funding partner for property professionals and business owners.
Roma Finance said its expansion into long-term finance would allow it to support borrowers throughout the entire property journey and strengthen its ‘customer for life’ ethos.
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It has recently gone through a recruitment drive to aid its growth, and the team is now at nearly 100 colleagues. This includes the eight new team members who formed a dedicated team for its BTL RomaPRO range.
The lender will also invest in technology to enhance the broker and borrower experience.
The next step in Roma Finance’s growth
Scott Marshall (pictured), managing director at Roma Finance, said this was a “landmark moment” for the lender, particularly in the current climate, and was a “hugely exciting step in the continued evolution of our business”.
He added: “Securing a forward flow with JPMorgan is not only transformational for our growth plans, but also provides significant support to our strategy and our people as we look to capitalise on this exciting opportunity.
“Our vision has always been to support brokers, property investors and developers throughout their entire journey, and this transaction enables us to strengthen that ‘customer for life’ proposition even further. Customers can now move seamlessly from bridging and development finance into long-term mortgage solutions, all under one roof, with further enhanced speed, flexibility and service.”
Marshall said the lender was continuing to invest heavily in its people, technology and proposition to ensure brokers and borrowers “have access to a market-leading experience and a wider range of competitive funding options”.
He continued: “With that in mind, I can confirm that further product launches and enhancements to our services are expected to follow later this year – so watch this space.”
Rob Tanna-Smith, co-head of Northern European ABS at JPMorgan, added: “This forward flow transaction will support Roma Finance as they broaden their product offering in the specialist property lending market, and also as they implement their strategic vision to deliver on the next phase of growth.”