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Flexi-Rate development exit bridge loans from 0.5% pm

Pluto Finance has introduced a new Flexi-Rate bridge loan product with competitive tailormade rates on its Residential Development Exit Loans from £3 million plus, with monthly rates matching the development’s Loan To Value (LTV).

Flexi-Rate Development Exit 

  • Development exit on completed stock
  • Minimum £3m loan size
  • Monthly rate = LTV (eg 55% = 0.55% pm)
  • Max 77% LTV
  • Arrangement Fee 0.5% up to 70%, 1% above 70% LTV 
  • LTV assumes 12 months interest and fees included

Furthermore, Pluto is extending the Flexi-Rate pricing to Finish and Exit Bridge Loans.

Flexi-Rate Finish and Exit

  • Minimum £3m loan size
  • Maximum 72% LTV
  • 1% Arrangement Fee
  • Dev Exit Flexi-Rate (as above) +0.2% pm until practical completion
  • Dev Exit Flexi-Rate from practical completion
  • Minimum construction draws of £100k
  • No ground or structural works
  • Lender monitoring surveyor to verify cost to complete; no more than 30% of total build costs outstanding
  • Development must be watertight, with up-to-date building control and new homes warranty
  • LTV figure includes 12 months equivalent interest and fees

 
Get in touch with the team for all enquiries.

 

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