Customers can use it to exit from a Roma bridging loan once their property project has been completed.

The five-year buy-to-let mortgage will initially be offered to existing customers to assess demand.

The term product can be taken on a repayment or interest-only basis, with rates depending on LTV.

The maximum loan size is £500,000, while the maximum LTV is 75%.

Customers can mitigate valuation risk by using the same surveyor who valued the property before the works commenced, while the increase in value of the completed property allows customers to take equity out of the property.

Properties do not need to be fully let at the time of refinancing from bridge-to-term.

Roma will offer dual representation for the refinance, meaning that the process should only take a few days.

•   Castlehill Capital arranges £86,000 bridging loan with Roma
•   Roma supports purchase of multiple-unit mixed-use property
•   Three questions to ask lenders

Scott Marshall, managing director at Roma Finance (pictured above), said: “This unique product allows our customers to move on to their next project once their ‘build-or-renovate-to-rent’ project has been completed and is yet another example of how Roma Finance continues to find new ways to de-risk bridging loans for its customers.

“The key to a successful bridging loan has always been understanding the exit route and since we’re now able to offer this ourselves in a truly innovative way, it provides yet more reasons for brokers to place their bridging business with us.

“We expect demand for this product to be huge which, in turn, should increase our market share of the bridging industry.

“This is arguably the most exciting development in the evolution of Roma Finance since we secured our first funding line with RBS just after the Brexit referendum in [June] 2016.”