Bringing you live news and features since 2006 

Fiduciam closes EUR5.5 million loan in Spain


Fiduciam, an institutionally funded and pension fund-owned marketplace lender, has completed on a EUR5.5million bridging loan in Spain in just three days. This takes its volume of lending in Spain up to more than EUR10 million in just the month of May.

The borrower was a wealthy British businessman with companies in Spain and in the UK.  He took out the EUR5.5 million Fiduciam loan to finance the development of two luxury villas in Marbella. The loan has an 18-month term, with an interest rate of just 0.80 per cent per month.
The loan was completed in just three business days from Fiduciam receiving the valuation to closing the loan.
Fiduciam is seeing strong demand for its bridging product in Spain, particularly from foreign nationals who have moved their property development activity to Spain. The banks in their country of origin cannot take Spanish mortgages, and the Spanish banks are less likely to grant loans to foreign nationals, particularly if the developer has only moved recently to Spain, or divides their time between their country of origin and Spain. 
Cristina Villén, Fiduciam’s originator for Spain, says: “We have had a strong start to the year, and we are expecting to surpass our EUR40 million lending target for 2019 in Spain. There is a large untapped demand for our loans in Spain and it is great the brokers are helping us to get our name out there.  We were very impressed with Cavendish Capital who brought us this transaction and drove the application process.”
Clint White, Head of Property Lending at Fiduciam adds: “We continue to expand our Spanish team in London. Our systems are set up to deal with multi-currency and multi-jurisdiction loans, so it is the same effort for us to grant a loan in Spain than in the UK.  As Spain has seen more deleveraging than many other European countries and its real estate market is still in the recovery stage, we expect this strong demand to continue.”
George Esquiant, director at Cavendish Capital brokered the loan. He says: “It has been a pleasure to work with Fiduciam on this loan. This transaction demonstrates that we can find suitable solutions for the very diverse needs of our client base by tapping into the wide array of UK-based bridge lenders.”

Latest News

BlackRock s iShares an undisputed leader among European ETF issuers pushed further ahead in Q1 with EUR173 billion in trades..
European ETFs raised USD47 8 billion in Q1 a 15 per cent increase compared to the same period in 2023..
LSEG Lipper s March report finds that globally equity ETFs +EUR113 2 billion enjoyed the highest estimated net inflows for..
Morningstar has published a review of the European ETF market for the first quarter 2024 which finds that it gathered..

Related Articles

etf active trading
Latest Morningstar data shows actively managed ETFs share of the US ETF market rose to 8 5 per cent at...
Kristen Mierzwa, FTSE Russell
Index Investments Group IIG a division within index provider FTSE Russell has extended its range of indices through two new...
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023 with an introductory suite of 11 ETFs seven thematic and four fundamental...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by