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Fiduciam completes first case in Scotland

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  • 10/10/2019
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Fiduciam completes first case in Scotland
Fiduciam has expanded its lending north of the border.

 

The bridging lender has completed its first transaction in Scotland, a £1.14m loan over a 24-month term to care home owners.

The loan will allow the owners of the care home to refinance their existing borrowing, which had been used to fund the renovation and reopening of the property. 

Fiduciam said it will also potentially provide further funding so the borrower can extend from 32 to 50 beds.

It said it had created a specific set of lender requirements and solicitors’ instructions for the Scottish market, alongside a ‘Scots law’ facility template and security documentation set, which it argued means it can now cater for the Scottish market based on local customs.

Clint White, head of property lending at Fiduciam, said the Scottish market was buoyant at the moment, with plenty of opportunity for the lender in the Glasgow and Edinburgh areas.

He continued: “Our aim is to be the first port of call for any broker with a transaction to place in Scotland. We can move quickly and have excellent solicitors on board, who are proactive and commercially minded.”

 

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