Pluto Finance

Pluto Finance completes £100m of bridging loans in 2018

Pluto Finance have revealed that it has completed £100m of bridging loans in 2018.

The specialist residential development lender provides bridging loans of up to 72% LTV against any asset class, with loan sizes ranging from £1m to £20m.

Last year’s funding was achieved over 20 loans across England and Wales and included development finance exits, planning reconfigurations, commercial short leases and light refurbishments.

Justin Faiz, partner at Pluto Finance (pictured above), said that it had a very strong pipeline going into 2019.

“Our approach of providing bespoke underwriting for large, complex loans coupled with fast turnaround times has been a big hit with property developers and investors.”

Notable bridging deals in 2018 included a £5.5m loan to refinance an existing retail centre in Dorset, with the lease to the anchor tenant expiring within six months.

The lender also completed a £6.5m bridging loan to acquire an office building in Kensington where the purchasers intended to obtain a full residential consent.

Pluto focuses on stretch senior, senior and bridging finance, with over half of its loans made to repeat borrowers.

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