Another great partnership for Specialist Hub and Roma Finance!
Specialist Hub, the specialist finance broker, completes another complex bridging case with Roma Finance.
Mr P and Mr S were looking to purchase a twenty bed HMO, located next to an unencumbered bed & breakfast establishment worth £3.5m, which they owned and ran.
A major hotel group used the twenty bed HMO as a training centre but only had permission to let ten of its twenty rooms. This restriction meant we were limited to which lenders we could approach for both a term or a bridging loan.
Roma Finance agreed to fund a bridge to raise 100% of the £1.77m purchase price by taking a charge over the bed and breakfast and the HMO.
Raising 100% towards the purchase costs means that our clients can use their funds to renovate the HMO and then apply for a twenty-bed HMO licence to allow them to obtain a term loan and exit the bridge.
Our delighted introducer received £21,000 on the day of completion.
For Specialist Hub’s Sakina Yusufali, this was her largest bridging loan completed with Roma Finance to date. Sakina commented, “Roma was excellent throughout the entire process, keeping me constantly updated and were a pleasure to work with.”
Specialist Hub MD, Tony Sutton, said, “Since being granted Packager status with Roma, our relationship has blossomed. They 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 for Roma Finance added, “Specialist Hub are a pleasure to work with, they package and manage their cases to the highest standards, which always makes for a much smoother process. I am looking forward to the next one.”
Roma Finance national sales manager, Steve Smith, 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.”