Fiduciam to up lending by 200% in 2018
Bridging lender Fiduciam is targeting increasing its lending by 200% to £150m in 2018.
The lender has made six appointments since the start of the year, while it has just hired Harry Hodell as a senior originator from Lendy.
Johan Groothaert, director of Fiduciam, said: “Whilst 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.
“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.”
The lender is planning to hire 15 more members of staff this year.
It lends in the UK, Ireland, the Netherlands and Spain, with loan amounts typically ranging from £500,000 to £10m.
As it stands 60% of its loan book is made up of traditional products such as buy-to-let, refurbishment and conversion loans, with the other 40% comprised of loans to SMEs for working capital, expansion and acquisition finance.
Fiduciam is backed by institutional funding.
Hodell said: “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 to expanding the number of introducers, significantly, over the next few months.”