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The bridging sector is one of the few financial markets that has escaped the complete governance of the Financial Conduct Authority. Although bridging loans obtained for residential use are regulated, those for business or investment purposes are not. How long can the market withstand such a contradict- ory
Fiduciam is targeting a expansion in Scotland for 2022, with a new team given the target to achieve £55m of lending over the year.
The loan had to cater for both the recommencement of trading and the upgrade of the building. It took Fiduciam six weeks to grant the loan, which involved a complex planning and title situation. The lender had to complete its loan within one week from exchange of contracts, as the hotel is going to be used for housing G7 police forces. Johan Groothaert, chief executive of Fiduciam, said: “Treloyhan Manor is an absolutely splendid building in a stunning location. “It needs substantial investment though, as it has fallen into disrepair over the years. “This situation is reflective of many...