Roma Finance, the bridging finance, short term lending and buy-to-let finance specialist, has a positive outlook for the coming new year.
National sales manager Steve Smith, writing in an article, explained that the lender is well equipped to deal with any more challenges from the pandemic. With staff now able to work remotely where necessary and using technology such as AVMs, video calling and drone footage of development projects, Roma Finance is prepared to face any restrictions that may be put into place to deal with the Omicron variant.
November was Roma Finance’s strongest month to date and the lender is confident that the new year will be a successful one with a robust property market.
Steve Smith, national sales manager at Roma Finance, wrote: “Even without the impact of the new variant, we’re expecting more subdued residential transaction volumes next year.
Government interventions put a rocket under the market in 2020 and 2021 and, inevitably, many purchases were moved forward to take advantage of the Stamp Duty Holiday.
After the holiday ended on 30th September, home sales in October fell 48.4% compared to September, and were down 30% year-on-year (HMRC).
The drop was fully expected and will likely settle into a steady but lower level of purchase volumes next year.
Other sectors are expected to be stronger. We’re still seeing high demand for development finance, and we predict this will continue into 2022. At Roma, our pipeline is particularly strong for heavy refurbishment and ground-up developments, and we don’t see this changing.”
Original article featured here…
In October, Roma Finance announced new promotions and appointments; Jack Ainsworth and James Edwards were both promoted to senior underwriter and a new hire has been added to the underwriting team, Farah Akhtar.
