"The additional £400 million of funding now available to be deployed in 2022 is a strong vote of confidence by our institutional funding partners, both in the economy and in Fiduciam as a lender."
Its interest rates now start at 0.55% per month for bridging loans, 0.57% per month for permitted development and conversion loans, and 0.61% per month for ground-up development.
Fiduciam expects its commercial and development loan offerings to be in strong demand over the course of 2022 as the economy recovers from the pandemic and projects previously put on hold now see the light of the day. For that reason, Fiduciam has lowered its interest rates particularly for loans financing permitted development, conversions, refurbishments and ground-up developments.
Fiduciam’s loans range from £250k to £25 million and have a term of six months to three years. LTVs are available up to 75% for residential property and up to 65% for commercial property.
Last week Fiduciam also announced an expansion of its lending throughout Scotland.
Thomas Reeve, heading up Fiduciam’s UK team, said: “We stood behind our clients throughout the pandemic, and provided them with £175 million of CBILS loans. As a participant in the Recovery Loan Scheme we continue to assist our borrowers as they recover from the crisis. After conducting an extensive competitor analysis and benchmarking exercise over the last two months, we are confident that our updated offering will be highly popular across the UK.”
Jake McCausland, head of Fiduciam’s development lending for the UK and Ireland, commented: “Our 2022 development pipeline is very strong, and the large number of repeat borrowers we see is a testament to the service we are able to offer. The new interest rates and LTV parameters will allow us to build on this and establish ourselves as a leading development lender.”
Johan Groothaert, CEO of Fiduciam, added: “The additional £400 million of funding now available to be deployed in 2022 is a strong vote of confidence by our institutional funding partners, both in the economy and in Fiduciam as a lender. We are expanding our lending operations across all markets, the UK as well as Spain, Ireland, the Netherlands and Germany. 2022 promises to be a very busy year and we look forward to assisting as many entrepreneurs as possible to turn their projects into reality.”