Pluto Finance Successfully Closes £7.5 Million of Housebuilder Finance in the South West

Pluto Finance, a leading provider of property finance, is delighted to announce the successful closing of a £7.5 million loan in Somerset. This achievement reflects Pluto Finance's commitment to addressing critical housing shortages in the area.

Jonathan Scott, Pluto’s Lending Director based in the South West, played a pivotal role in the closing of this loan which had an LTGDV of 65% and an LTC ratio of 80%. Jonathan Scott commented: “We are delighted to support this exciting project in Somerset. We are confident that this new development will bring substantial benefits to the community”.

The project, situated near Bristol, focuses on the much-needed development of residential family housing.

The recent closing adds to Pluto Finance's recent accomplishments in the region including backing local housebuilders on a £12 million scheme in Salcombe and a £10 million project located in Somerset.

Despite the current challenging market conditions, Pluto Finance remains fully committed to supporting established housebuilders and has observed a notable uptick in enquiries throughout the region.