A new Scottish team has been established with a nationwide lending appetite and an ambitious target to achieve £55 million of lending in 2022.

Fiduciam is launching new, lower interest rates. Rates from its new product suite start from just 0.57% per month for bridge loans and non-ground up projects. Rates for ground up developments start at just 0.61% per month.

Fiduciam’s interest rates in Scotland remain fully aligned with those offered in England and Wales. Typical loans are between £250,000 and £25 million. 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 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.

“CBILS provided us with a great opportunity to work with, and eventually meet in person, many brokers throughout Scotland and we look forward to working with them more closely over the coming year. The quality of the enquiries we received at the close of 2021 is extremely encouraging for 2022.”

Fiduciam’s CEO Johan Groothaert added: “Our new Scottish team has been set an ambitious origination target of £55 million for 2022. 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.”