Cristina Villén

Fiduciam completes €5.5m loan in Spain for luxury development

Fiduciam has completed on €5.5m loan to finance the development of two luxury villas in Marbella, Spain.

The marketplace lender has now taken its volume of lending in Spain to more than €10m in May.

The loan — which was completed in three business days for a British businessman who had companies in Spain and the UK — has an 18-month term with an interest rate of 0.8% per month.

“We have had a strong start to the year, and we are expecting to surpass our €40 million lending target for 2019 in Spain,” said Cristina Villén, originator and case manager at Fiduciam (pictured above).

“There is a large untapped demand for our loans in Spain and it is great the brokers are helping us to get our name out there.”

Clint White, head of property lending at Fiduciam, added: “We continue to expand our Spanish team in London.

“Our systems are set up to deal with multi-currency and multi-jurisdiction loans, so it is the same effort for us to grant a loan in Spain than in the UK.”

George Esquiant, director at Cavendish Capital, who brokered the loan, said: "This transaction demonstrates that we can find suitable solutions for the very diverse needs of our client base by tapping into the wide array of UK-based bridge lenders."

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