Spotlight on… Fiduciam
BondMason approved Fiduciam in summer 2016 as a specialist secured property and SME lender. The team behind Fiduciam are experienced investors, with a good understanding of credit and strong alignment with investors – they invest in every loan. Lending through Fiduciam is another point of differentiation for BondMason – enabling retail clients to access returns not readily available as the minimum investment threshold for Fiduciam is £250,000. Unlike many other platforms, Fiduciam does not accept any direct retail investors as it is entirely focused on institutional investors, such as fund managers, family offices and pension funds.
Fiduciam was set up in late 2014 by two experienced financiers, Johan Groothaert and Henrik Takkenberg. Johan, Henrik and the team has long-standing experience of lending across asset classes including a specialism property-backed lending as well as building businesses. Since establishment they have made 59 loans, totalling almost £40 million.
They offer three types of secured loan to: (i) standard rental loans (up to three years) to landlords who wish to extend their real estate portfolio; (ii) business bridge loans (up to three years) for entrepreneurs, small and medium enterprises to provide , where a business can obtain a loan for business purposes secured against property or other business assets; (iii) permitted development loans for up to two years to finance the purchase of development property, secured against this property, which is intended for refurbishment, light redevelopment or conversion.
Fiduciam’s lending process is efficient and straightforward; once an initial loan application meets the required lending criteria, indicative terms are offered; if the borrower proceeds, then they instruct a solicitor to deliver the lending requirements and Fiduciam will instruct an independent valuation of the assets for security as well as carrying out due diligence checks. If all aspects of the transaction are cleared, then upon signing of the legal documents, funds will be released to the Borrower. Fiduciam’s lending process meets belt and braces institutional standards and provides BondMason with a very high degree of transparency. It operates a solid bank IT system to handle the loan volumes; its business model is oriented towards long-term growth and is very sustainable thanks to the company being well capitalised and being cash-flow positive.
Stephen Findlay, CEO of BondMason notes, “The team at Fiduciam are experienced investors and have an impressive track-record of lending over many years across not only property, but other asset-classes. We really like that Fiduciam invests its own money alongside its investor clients, as this means investor interests are aligned.”
Johan Groothaert, Fiduciam’s co-founder, added “Whilst direct lending offers a lot of opportunity, it is a difficult landscape to navigate for investors, and therefore services such as BondMason are crucial for the development of a mature and sustainable market."