Average loan size has also increased, and Roma are now aiming to triple their lending in 2016.
January saw the launch of a new product suite after feedback from key introducers. Roma says its new 3-month 0.45% product along with increasing their maximum loan size to £650,000 have helped to boost business levels.
Scott Marshall, Director, commented:
“The first quarter of 2016 has seen a lot of our planned improvements to the business come to fruition. From products to processes to partnerships, the hard work has yielded an impressive 300% increase in lending volumes which is a great credit to the whole team at Roma.
“We have been fortunate that the market has worked in our favour with the tax changes to buy to let properties, although encouragingly over the past couple of weeks we have also seen a good level of enquiries for completions during April which is not what we were expecting. Part of the success is definitely because more introducers are working with us and experiencing the great levels of service we provide. It’s pleasing that we are still able to provide funding quickly with Agreements In Principle being delivered within an hour of enquiry and being able to fund deals in just 48 hours. Properties such as HMOs and un-mortgageable properties remain popular and our pragmatic approach to underwriting has struck a chord with introducers and their clients, helping our drive for growth."
