Specialist lender Fiduciam has obtained £100m in new funding to support SME housebuilders in the UK.
The funding is to be deployed over two years, starting from Q4 this year. With this money, Fiduciam will help small and medium housebuilders to deliver more housing in the country in line with government aims.
The lender’s bridging and development loans range from £500,000 to £25m and have terms up to three years. Loans are available up to 70% loan to value (LTV) for residential property and 65% for commercial property.
The lender said the funding was a sign of confidence from its institutional funding partners both in Fiduciam and the economy.
Louisa Holland-Hibbert (pictured), head of Fiduciam’s origination for the UK, said: “Our repeat client pipeline is very strong, and the large number of enquiries we are receiving is a good indication of the increasing number of projects now getting underway.
“The additional funding and competitive interest rates will allow us to support more new and existing borrowers across the UK.”
Building a better PRS for all
With already complex regulation on landlords today and more changes on the horizon, Heather Cara,
Sponsored by BM Solutions
Thomas Reeve, head of Fiduciam’s UK team, said: “Fiduciam expects its bridging and development loan offerings to be in strong demand over the tail end of 2024 and throughout 2025, as interest rates start to come down and projects previously put on hold now kick into gear. With the additional funding in place, Fiduciam will be particularly competitive for financing permitted and ground-up developments.
“As part of this growth, Fiduciam is expanding its team to better serve its clients and manage the increasing demand for short term real estate financing, with more announcements to come in the coming weeks.”