Fiduciam plans Scotland expansion
Fiduciam has targeted an expansion in Scotland for 2022, with a new team given the target to achieve £55m of lending over the year.
Fiduciam has also reduced rates, with its new product suite starting from 0.57% per month for bridge loans and non-ground up projects, while rates for ground up developments start at 0.61% per month.
Louisa Willoughby, case manager at Fiduciam, said: “Scotland is a growing market for specialist finance and a particular focus for Fiduciam for 2022.
“Historically Scottish businesses have been underserved, with limited options for more complex property finance – from time sensitive bridge loans to development finance for family housebuilders.
“Fiduciam’s expertise of lending in a variety of European jurisdictions, including Spain, France, Germany and the Netherlands, means that Scotland’s distinct legal system poses us no challenge.
“CBILS provided us with a great opportunity to work with, and eventually meet in person, many brokers throughout Scotland and we look forward to working with them more closely over the coming year.
“The quality of the enquiries we received at the close of 2021 is extremely encouraging for 2022.”
Johan Groothaert, chief executive of Fiduciam, added: “Our new Scottish team has been set an ambitious origination target of £55m for 2022.
“We have a broad risk appetite and are supporting a range of Scottish firms from housebuilders to trading businesses.
“Local knowledge is at the centre of good lending, so setting up a specialist team for Fiduciam’s Scottish business was a natural next step.”