At the same time, Fiduciam announced that it was offering new, lower interest rates starting at 0.57 per cent per month for bridge loans and non-ground up projects. Rates for ground-up developments will start at 0.61 per cent per month.
Fiduciam’s case manager Louisa Willoughby 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.”
Johan Groothaert (pictured), Fiduciam’s chief executive, said the lender’s Scottish team had been set an “ambitious origination target” and as “local knowledge is at the centre of good lending” establishing a specialist team for its Scottish business was a “natural next step”.
Fiduciam also said its interest rates in Scotland remained fully aligned with those offered in England and Wales. The company issues loans secured over real estate in the United Kingdom, Ireland, Spain, the Netherlands, France, Germany, Belgium and Switzerland in pounds and euros. The lender said that typical loans were between £250,000 and £25m with a maximum loan to value of 70 per cent for residential properties and 65 per cent for commercial ones.