Roma Finance secures funding from Foresight
HMT LLP advised Foresight Group on their provision of a debt facility to independent principal property lender, Roma Finance. Foresight have provided a debt facility of up to £25 million to Roma.
Based in Manchester, Roma provides short-term bridging finance to property developers, secured on residential, commercial and industrial properties, throughout England & Wales. Roma has a strong track record, having completed just under 500 transactions since 2014 and grown its loan book by almost 50% since January 2018.
Foresight worked with Roma to arrange an innovative financing facility tailored to Roma’s business model. The Foresight debt facility works alongside Roma’s existing traditional funding lines provided by RBS and Cambridge Building Society but provides the management team with more flexibility around the type of business they can write, and therefore will help to accelerate the business’s growth.
HMT undertook financial due diligence on this transaction.
Amy Crofton, Investment Manager at Foresight commented:
Paul Read commented:
“We are delighted to have advised Amy and Foresight on their provision of a debt facility to Roma Finance which will enable the business to reach their ambitious growth goals. We look forward to working with them again in the future.”
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