Simon Chapman

Pluto Finance refreshes bridging offering after raising over £250m of additional funding

Pluto Finance has launched its revamped bridging lending product range.

Key changes include pricing from 0.49% per month as well as lending up to 77.5% LTV.

The specialist lender — which has raised over £250m of additional institutional capital this autumn to boost its bridging lending capacity — now also offers two-year bridging loans as standard, with loan sizes from £1m–30m-plus.

The lower rates are said to be proving particularly attractive for development exit.

In an exclusive interview with Bridging & Commercial, Simon Chapman, lending director at Pluto Finance (pictured above), stated that the “short-term finance community has evolved extensively over the past 10 years”.

“Lenders are more sophisticated than ever; diverse in their product offerings and always looking to enhance and improve the client experience.

“The level of trust in the sector is very different to what it was many years ago and it’s clear that if you get it right, then you will see your business grow, as we can already see from the quality of some of the lenders in the market today.”

Commenting on the need for short-term finance providers to be flexible, Simon highlighted that lenders “need to understand the change in risk, make knowledge-based, quick decisions and adapt to those changes to give clients the best solution”.

Last month, Pluto Finance revealed plans to relocate to a larger office and recruit a minimum of five new members of staff.

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