"We are seen as an industry innovator and in order to remain a market leader, we have invested a lot in embedding fintech into our processes to enhance our lending capabilities."
- Scott Marshall - Roma Finance
PR: Please tell us a little about yourself and your current role in the property industry.
SM: “My name is Scott Marshall and I am the founder and managing director at Roma Finance. I have worked in property finance for more than 21 years, and through Roma, I am proud to have helped finance the development of over 10,000 new dwellings across the UK.
"As a business, we offer a range of flexible property lending solutions, designed to support partners and borrowers on standard to complex bridging and development applications. The majority of our customers are small to medium sized housebuilders and entrepreneurial private landlords, and it’s these markets that make our role so enjoyable!
"We thrive on working closely with each and every customer to understand their objectives and help them create prosperity from property through learning, collaboration, innovation and integrity.”
PR: How and why did you start Roma?
SM: “Roma was established in 2008 – a time when the global financial crisis was making trading conditions for finance companies extremely hard and I had been made redundant from Lancashire Mortgage Corporation, now known as Together Commercial.
"I took on a procurement role at an IT firm and then set up Roma as a side hustle because I enjoyed the lending industry and I felt I needed a contingency just in case something happened to the IT company I’d just joined.
"The name ‘Roma’ is a portmanteau created from those of my late grandparents, Rose and Max, and its first loan of £75k was, in part, made possible by releasing equity from my own home. There was real pressure for it to be a success, and thankfully it was.
"Since then, Roma has grown to a team of over 60 colleagues, has secured 10 funding lines and has been able to support over 5,000 independent landlords and house builders to realise their property development aspirations.”
PR: Roma has recently celebrated 15 years in business (congratulations!), what have been the highlights for you and is there anything you know now that you wish you had known back then?
SM: “Thank you! Yes, we’ve come a long way and there have been many highlights, I’m pleased to say. I think one of the things I am most proud of though, is that our defaults (less than 1%) are a fraction of what’s considered normal in the industry (c. 13% according to the latest statistics from the Bridging & Development Lenders Association).
"We are now consistently completing over 100 fundings every month to customers up and down the country, and our redemptions continue to be strong. It’s also important to note that we never stand still or rest on our laurels, we are constantly evolving our ‘borrower first’ approach by listening to our brokers and customers and thinking about ways we can improve on what we do. We are seen as an industry innovator and in order to remain a market leader, we have invested a lot in embedding fintech into our processes to enhance our lending capabilities.
"The technology solutions we have implemented include open banking technology, software to read the NFC chip on an applicant’s passport and RomaFLOW, our bespoke processing channel which was created to speed up the application-to-completion process and make submissions easier for brokers.
“In terms of things I wish I had known back when I was starting out, it would be that successful businesses take time to flourish – Roma wasn’t built in a day! It takes more time, more money and more effort than you can imagine.
"You have to put your ego aside and understand that the world isn’t sitting around waiting for your phone call, you have to be willing to put yourself out there. Knock on doors, have conversations, LISTEN to people, give them an opportunity to share their concerns and build relationships. Oh, and if success doesn’t happen immediately – keep going!"
PR: Where would you say are the main opportunities in today’s market for property investors?
SM: “I suspect the real opportunity for property investors over the coming year will be in the unloved towns and smaller cities across the UK. Councils will be looking to invest significantly in regenerating the high street to re-establish thriving communities and support a further shift towards the 15-minute city.
"Void retail and commercial spaces are widely available in these locations so can be secured at competitive prices, and therefore offer entrepreneurial investors an opportunity to buy well. We have seen a number of customers purchasing this type of property and then refurbishing the building to offer a mix of retail and residential units that will help drive footfall back into the town centre.
"Obviously, this is great news for the area, but it is also a savvy business move as the refurbs will increase the value of the property in the short term and boost yields in the long term.”
PR: What do you think is the outlook for residential property investment post-election?
SM: “With the election behind us and Rachel Reeve’s objectives set out for the next five years, it’s clear that it is going to be an incredibly exciting time for everyone involved in residential property, from housebuilders to property developers and lenders.
"The drive to increase supply is certainly going to keep us all busy, but I think it’s important to acknowledge that this will also put pressure on developers, tradespeople and suppliers alike – do we have access to the skilled workforce required and the volume of raw materials available in order to meet the Government’s ambitious targets?
"I suspect costs for labour and materials continue will rise, while end values are likely to drop due to the increase in supply, and this means that margins are really going to be squeezed.
"So, we’re going to have to work harder to make property investments pay off and buying well will be vital. I’ve already mentioned that town and city centre real estate is where I think the opportunities lie, and if properties here can be secured at the right price, we are confident that value can be added in the short and long term.”
PR: What are Roma's plans for the next 24 months, anything we need to look out for?
SM: “We have a strong business, and some incredible talent within it, which means that we are perfectly positioned to continue growing our reach. We achieved our most successful month to date in June 2024 when we approved almost 110 loan advances, and we are currently working on a deal to secure a new funding partner to add to the long-standing relationships we have with Shawbrook Bank, Paragon Bank, The Cambridge Building Society, The British Business Bank and The Greater Manchester Combined Authority.
"The aim is to double our loan book by 2026, to further increase repeat business and continue to use our knowledge and experience to educate and innovate within the industry we are proud to be a part of.”
