SUBSCRIBE TO OUR NEWS EMAILS
Friday, 26 February, 2021
No Result
View All Result
BestAdvice
  • News
  • Features
  • Blogs
  • Podcast
  • Research & Reports
  • Video
  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI
  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI
No Result
View All Result
BestAdvice
No Result
View All Result

Fiduciam secures vineyard deal with thousands of bottles of wine

by Kevin Rose
23 May 2019
Bridging loan returns trumping wine and art
Share on FacebookShare on TwitterShare on LinkedIn

Fiduciam has funded a vineyard in France using the wine as security.

The three-year loan was structured as a multi-drawdown facility of €3 million with an initial drawdown of €750k.

Fiduciam took a charge over the vineyard, but in addition it also took security over 77,422 bottles of wine and 2631 hectolitres of wine in barrels.

The loan was taken out by a Luxembourg company, principally owned by a high net worth individual from the United States who had purchased the vineyard several years ago and now needed to refinance some existing debt of the vineyard.

Due to the nature of the borrower’s company and the multi-national shareholders involved, the loan involved five jurisdictions: Fiduciam based in the UK, the vineyard in France, the borrower/guarantor in the US, the borrower’s company in Luxembourg and a pledgor from Australia.

In order to carry out the property valuation, a specialist RICS surveyor actually had to spend time trying the wine to ensure it was of the quality expected.

Fiduciam has announced it is also willing to lend against in-bond wine cellars in the UK.

Johan Groothaert, CEO of Fiduciam, said: “This deal once again demonstrates the cross-border capabilities of Fiduciam and the willingness to lend against trading businesses. This puts us in a fairly unique position, particularly that our loan IT platform can deal with loans of such complexity. This ability allows us to offer interest rates abroad, similar to those we would be offering in the UK.”

Fiduciam is taking a shipment of the wine with the intention to provide brokers with a thank you gesture on the closing of each loan.

ShareTweetShare
Previous Post

PRIMIS adopts SolutionBuilder for its protection proposition

Next Post

Pure Retirement launches Heritage range of products

Next Post
Record uptake of equity release adviser guide

Pure Retirement launches Heritage range of products

Conveyancing: improving technology is only part of the answer

Octane Capital sees sharp rise in refurb loan AIPs

South West workers lack protection cover

L&G revamps income protection offering

CLICK FOR COVID-19 LATEST

Equifax highlights monthly financial pressures on families

Think tanks warns of 770,000 at risk of repossession

24 February 2021
Did Sunak miss a trick with the Spending Review?

Stamp Duty holiday extension rumoured

24 February 2021
Platform cuts rates on buy-to-let

Advisers say SDLT holiday end won’t affect buy-to-let

23 February 2021

TECHNOLOGY REPORT

Most Popular

  • Liverpool Street new destination for Metro Bank

    Metro Bank revamps higher LTV offering

    0 shares
    Share 0 Tweet 0
  • First 4 Bridging hires key account manager

    0 shares
    Share 0 Tweet 0
  • Roma Finance joins MCI’s lender panel

    0 shares
    Share 0 Tweet 0
  • New identity and website for Openwork

    0 shares
    Share 0 Tweet 0
  • Stamp Duty holiday extension rumoured

    0 shares
    Share 0 Tweet 0

Receive BestAdvice briefings

   


   


   


  • Subscribe
  • Advertise
  • About us
  • Contact us
  • Privacy policy
  • Terms & Conditions
SUBSCRIBE TO OUR ALERTS!

© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

No Result
View All Result
  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI

© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.