"Our aim is to be the first port of call for any broker with a transaction to place in Scotland. "
Bridging lender Fiduciam has expanded into Scotland and completed its first transaction there, enabling the refinancing of a Glasgow care home.
This follows the opening of Fiduciam’s Manchester office in May this year, giving it the opportunity to grow its lending activities in the north of England and now into Scotland.
Fiduciam has created a specific set of lender requirements and solicitors' instructions for the Scottish market. In addition, it created a 'Scots law' facility template and security documentation set. It is now fully equipped to cater for the Scottish market based on local customs.
Victor Tang, underwriter at Fiduciam, said: “This is a reasonably complicated case but Fiduciam are well placed to handle this type of business, based on our previous experience of transactions involving care homes. The owners have already renovated the care home to a high standard and turned it into a profitable operation.”
Fiduciam's head of property lending, Clint White, commented: “The Scottish market is buoyant at the moment. We see a lot of opportunity here, especially in the Glasgow and Edinburgh areas, where our initial focus will be.
“Our aim is to be the first port of call for any broker with a transaction to place in Scotland. We can move quickly and have excellent solicitors on board, who are proactive and commercially minded.
“We are confident Fiduciam provides an excellent option for lending in Scotland and we are keen to expand our operations in this market.”