FIBA partner Fiduciam expands into Scotland

Financial Intermediary & Broker Association (FIBA) partner Fiduciam has expanded into Scotland after enabling the refinancing of a Glasgow care home.

The £1.14 million loan facilitated by Fiduciam, which is over a 24-month term, will allow the care home’s owners to refinance their existing borrowing, which had financed the renovation and reopening of the care home.

The expansion into Scotland by the bridging lender follows the opening of the firm’s Manchester office in May this year which enabled it to grow its lending activities in the north of England and now into Scotland.

Fiduciam will potentially provide an additional funding line to assist the borrower with the financing of the works to extend the care home from 32 to fifty beds.



The borrowers are experienced care home managers. They have already invested around £1.5 million – including £485,000 of their own equity – to carry out substantial renovation work and bring the home back into use after the previous owners had closed it down. It reopened in May 2018, with planning permission in place for a significant extension to the property.

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, Fiduciam underwriter, 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.”

Commenting on Fiduciam’s entry into the Scottish market, Clint White, Fiduciam head of property lending, added: “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.”

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