Pluto Finance launches new term loans for residential investment
Pluto Finance has launched a new lending product for professional landlords in the UK’s private rental sector.
With loan sizes from GBP5 million to GBP50 million, Pluto Finance will provide loans of up to 65 per cent LTV for fixed terms of 10 years or longer at a margin of circa 2.5 per cent.
Simon Chapman, Lending Director at Pluto Finance, says: “We are delighted to be able to announce the launch of our residential investment term lending programme. We are looking to fund professional landlords with unbroken blocks of flats in major towns and cities throughout England and Wales.
“Combined with our market leading rates for residential development funding, we can now provide full-cycle development and investment finance for PRS landlords on very attractive terms.”
Pluto Finance is looking to make over GBP200 million of residential investment term loans by March 2021.
This new lending programme compliments Pluto Finance’s existing core products. The specialist property lender focuses on stretch senior, senior and bridging loans, with backing from top-tier global financial institutional investors.
Pluto Finance has been actively lending since 2011 and is currently funding the development of around 2,000 new homes.