Building unique partnership opportunities
28 July 2021 • Products & Services
For more than 170 years our primary focus has been to help customers in and around Cambridge with their homes and housing needs.
But even on those occasions when a mortgage request falls outside of our lending criteria we don’t just simply say no.
We like to find ways to be of service.
So when we received a request for a mortgage of £300,000 to finance 100% of the build costs for a modern detached property in the back garden of an existing property, we introduced the customer to our partner Roma Finance.
“Helping our community with their housing needs has always been central to our business since the beginning, so we were delighted to recommend this customer to Roma Finance,” said Tracy Simpson, Head of Lending.
“Roma is a flexible lender for a wide range of property types, such as development and bridging lending, and we were confident they would consider this more unusual lending request.”
The customer was delighted to receive an offer of finance from Roma for 12 months for the proposed two-story detached new-build property, in the midst of the global pandemic.
Once it was wind and watertight, Roma went on to refinance the original development loan with an additional loan to complete the property to a particularly high specification.
That’s £425,000 for a new property that was eventually valued at nearly £650,000.
Charlotte Rutter, Head of Marketing & Comms for Roma Finance, said, ‘’It was fantastic to receive this introduction from Cambridge Building Society, which is committed to customer care and lending integrity.
“The new build is a magnificent property built with love and careful attention to detail. The fact we had the new build and residential properties as security enabled us to increase our initial loan to allow completion.’’