Get in touch
News

Pluto Finance closes £158m of funding in the last six weeks

Pluto Finance has announced a total of £158 million of funding over the last six weeks.

Completing a total of £61m of stretched development loans across Brent, Essex and East Sussex, Pluto’s Stretched Development funding is now back to a maximum of 90% LTC / 75% LTV.

A further £22m of Senior Development funding was agreed for 98 flats and 35,000 sq ft of retail space in Hertfordshire.  Pluto’s Senior funding rates are competitive with the high street, with margin’s beginning with a  “3%”.

Finally, £75m of bridge loans closed across seven facilities in the last six weeks, ranging from loan sizes of £2.5m to £21m, all of which were facilitated at short notice.  These bridge loans have assisted a range of borrower requirements, from land with planning, requiring short term loans until assets are sold or planning is enhanced, to Development Exit Bridge loans required until either units are sold or refinanced to longer-term debt. 

Mario Ioannides, Associate Partner at Pluto Finance comments: “Our pipeline for the rest of the financial year is strong and we are on target to exceed our business plan targets.  What we have achieved in the last 6 weeks is very pleasing during a time of moving into new offices to house our growing team of finance experts.  

“We are now back to facilitating 90% LTC development loans and our bridge loan products are competitive both in pricing and structuring. We also now have even more streamlined processes and structuring for sub £10m development loans and sub £3m bridge loans.”

Leave a Reply

Your email address will not be published.

Privacy Settings
Information About Our Use Of Cookies Our Site (www.pluto-finance.com) uses cookies to distinguish you from other users of our website. This helps us to provide you with a good experience when you browse our Site and also allows us to improve our Site. By continuing to browse the Site, you are agreeing to our use of cookies. A cookie is a small file of letters and numbers that we store on your browser or the hard drive of your computer if you agree. Cookies contain information that is transferred to your computer’s hard drive. Cookies are typically assigned to one of four categories, depending on their functions and intended purpose: strictly necessary cookies, analytical/performance cookies, functionality cookies and targeting cookies. We use the following cookies: Analytical/performance cookies. These cookies collect information about how you use our Site. They allow us to recognise and count the number of visitors and to see how visitors move around our Site when they are using it. This helps us to improve the way our Site works, for example, by ensuring that users are finding what they are looking for easily. These cookies don’t collect information that personally identifies you and only collect aggregated and anonymous information. You can find more information about the individual cookies we use and the purposes for which we use them in the table below: Cookie Name Purpose More information Analytical/performance cookies Google Analytics Examples of purposes for which a cookie may be used: · Estimate our audience size and usage pattern. https://www.google.com/analytics/analytics/#?modal_active=none You can block cookies by activating the setting on your browser that allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or parts of our Site. Last updated: 31 July 2018
Youtube
Consent to display content from Youtube
Vimeo
Consent to display content from Vimeo
Google Maps
Consent to display content from Google
Spotify
Consent to display content from Spotify
Sound Cloud
Consent to display content from Sound
Get a Quote