Fiduciam, the short to medium term lender, has today (1st May) made a key hire which has enabled it to expand its lending activities in the north of England and open a new office in Manchester. This is the second new office opening that Fiduciam has made this year having opened a new international office in Frankfurt, Germany just two months ago in March.
Fiduciam has hired Chris Parr to head up its new northern office. Chris has worked in bridge lending for over 12 years, having worked at both Precise Mortgages and Masthaven prior to working at Tuscan Capital, which he now leaves to join Fiduciam.
Fiduciam already receives a strong business flow within the north of England which it now intends to expand. The opening of the new office will also involve relocating some staff from its head office in London up to Manchester in order to better deal with the growing amount of business from this region.
Fiduciam is also looking to expand the office by hiring a number of case managers in Manchester as part of its 2019 hiring programme. Fiduciam announced plans back in January to make 25 new hires this year and double its lending to £250million of new loans. So far this year it has already hired 12 new staff, based in its London office and is now looking to expand this to other geographic regions.
Chris Parr, business development manager, says:
“I am eager to build a strong presence for Fiduciam in the North. Fiduciam has more flexible funding facilities than most other lenders, allowing it to offer a broader spectrum of bridging solutions. Fiduciam’s pipeline of bridging, development and business lending in the north is already strong, and I am looking forward to expanding this still further to help achieve Fiduciam’s ambitious plans for this region. There is a lot of demand in the north that is currently not being met so we aim to fill this gap.”
Clint White, head of property lending at Fiduciam comments:
“Fiduciam already does a large part of its UK business in the north of England and therefore it makes sense to have a local presence in Manchester from where we can better provide this service. In Chris Parr we have a really high calibre person who can drive our Manchester office and help us to achieve our ambitious plans.
“As we intend to double our UK loan book this year and the London real estate market remains subdued, our Manchester office is an important investment and a positive step forward for us, enabling us to better meet the demand that we know is there.”