Short-term lender Fiduciam has established a new Scottish team and is targeting a ‘major expansion’ this year, with the aim of achieving £55m in lending.
The company provides the loans to housebuilders and entrepreneurs.
It will be launching a new lower interest rate product suite, starting from 0.57% per month for bridge loans and non-ground-up projects. Rates for ground-up developments start at 0.61% per month.
Typical loans are between £250,000 and £25m. The maximum loan-to-value (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 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 house builders.”
Fiduciam’s chief executive Johan Groothaert added: “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.”
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