Fiduciam on track to increase lending by 200%

Fiduciam has revealed that it is on track to lend £150m in 2018, up 200% on 2017.

The bridging lender has made six additions to its bridging team since the beginning of the year and is strengthening its business development capability with the appointment of Harry Hodell as a senior originator, who joins from Lendy.

Fiduciam is also planning to hire a further 15 industry professionals this year as it looks to satisfy demand.

The lender – which is backed by institutional funding – provides loans typically in the £500,000-10m range for durations up to three years and operates in the UK, Ireland, Netherlands and Spain.

So far, Fiduciam has lent over £100m with 60% of its loan book representing traditional products such as BTL, refurbishment and conversion loans.

Meanwhile, the remaining 40% is made up of loans to SMEs for working capital, expansion and acquisition finance, with increasing demand for its ‘business bridge’ solution.

“While having an advanced technology platform, our focus remains on traditional values such as understanding our borrowers and working closely with them to find the right solutions,” said Johan Groothaert, director at Fiduciam (pictured above).

“Such an approach pays off both for the borrowers and ourselves and has resulted in our zero default rate to date. 

“We are excited to now have someone of Harry’s calibre join us to take our message to a wider client base.”

Harry added: “The institutional funding model of Fiduciam and its borrower-centric DNA set it apart from many in the bridging lending industry. 

“I am looking forward to working closely with introducers and intermediaries to meet their clients’ needs and expanding the number of introducers, significantly, over the next few months.”

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