Fiduciam, the institutionally funded short-term lender for home builders and contractors, is targeting major expansion in Scotland by 2022.
A new Scottish team has been set up with a nationwide lending appetite and an ambitious goal of reaching £ 55million in loans by 2022.
Fiduciam is simultaneously launching new lower interest rates. Rates for its new product line start at just 0.57% per month for bridging loans and unfounded projects. Rates for ground developments start at just 0.61% per month.
Fiduciam’s interest rates in Scotland remain perfectly aligned with those offered in England and Wales. Typical loans are between 250,000 and 25 million pounds. The maximum LTV is 70% for residential cases and 65% for commercial cases.
Louisa Willoughby, Case Manager at Fiduciam, commented: “Scotland is a growing market for specialist finance and a particular target for Fiduciam for 2022. Historically, Scottish businesses have been underserved, with limited options for funding. more complex real estate finance – development finance bridging loans for builders of family homes. Fiduciam’s lending expertise in various European jurisdictions including Spain, France, Germany and the Netherlands means that we have no problem with Scotland’s separate legal system.
“CBILS has provided us with a great opportunity to work with, and possibly meet in person, many brokers across Scotland and we look forward to working more closely with them over the coming year. The quality of the requests we received at the end of 2021 is extremely encouraging for 2022. ”
Fiduciam CEO Johan Groothaert added: “Our new Scottish team has set an ambitious £ 55million origination target for 2022. We have a large appetite for risk and support a range of businesses Scottish women, from home builders to trading companies. Local knowledge is at the heart of a good loan, which is why setting up a team of specialists for Fiduciam’s Scottish operations was a natural step.