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Pluto Finance funds Galliard Homes’ 50-unit London scheme

Pluto Finance has closed a new £12.5 million loan to Galliard Homes for a new 50-unit residential development in Leyton, London E10.

Located in the Leyton area, which continues to see significant regeneration, the Tallack Road site is in walking distance to numerous rail and tube links, including Leyton station which serves the Central Line and Walthamstow Central, which connects the Victoria Line and London Overground services. Development of the Leyton scheme is due for completion in 2020. 

Mario Ioannides, Lending Director at Pluto Finance, comments: “We have been lending to Galliard Homes since 2014, working closely with the team on developments across the South East and we are delighted to be funding their latest scheme in Leyton. At only 60% LTV, we were able to offer a cheaper interest rate than the clearing banks.” 

Jonathan Morgan, Director of Investment and Developments at Galliard Homes, says: “We have a number of live development loans with Pluto Finance. They continue to offer a market-leading combination of pricing and pragmatism and we are very pleased to extend our cooperation to our new Leyton project.” 

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