Fiduciam secures £400m additional funding and cuts interest rates

Fiduciam has secured £400m of new funding to be deployed this year.

In addition, the specialist lender has cut interest rates across all product ranges.

Pricing now starts at 0.55% pm for bridging loans, 0.57% pm for permitted development and conversion facilities, and 0.61% pm for ground-up development finance.

The decision to lower its interest rates follows extensive competitor analysis Fiduciam has conducted, benchmarking itself against non-bank lender and challenger banks in order to ensure top competitiveness on interest rates for each of its core products. 

The lender expects its commercial and development offerings to be in strong demand over the course of 2022 as the economy recovers from the pandemic.

From a geographic perspective, Fiduciam’s loan book is well spread across the UK, with Northern Ireland and the Midlands representing large parts of its loan book.

The new funding will also enable the lender to further expand its operations, having announced its intentions to enter the Scottish lending market last week.

Johan Groothaert, CEO at Fiduciam (pictured above), said: “The additional £400m 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.”

Thomas Reeve, head of Fiduciam’s UK team, commented: “We stood behind our clients throughout the pandemic, and provided them with £175m of CBILS loans. 

As a participant in the Recovery Loan Scheme, we continue to assist our borrowers as they recover from the crisis."

Jake McCausland, head of Fiduciam’s development lending for the UK and Ireland, added: “Our 2022 development pipeline is very strong, and the large number of repeat borrowers we see is 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.”  

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