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Pluto Finance enters bridging market

Development finance lender Pluto Finance has announced that it has entered the bridging market.

The lender will be providing competitive short-term bridging loans alongside its stretch senior, senior and mezzanine development loans. 

Loan sizes will be between £1m-6m with up to 70% loan-to-value, including rolled-up interest, along with loan terms of three to 12 months. Pluto also claims to issue terms within 48 hours.

Mario Ioannides, lending manager at Pluto Finance, told Bridging & Commercial that it saw bridging as a great opportunity.

“We have seen a huge opportunity where we can expand.

“We have noticed a strong demand for the product from our existing clients. 

“It will benefit our existing clientele and hopefully attract new clients who we will be able to assist.”

Pluto will consider locations in London and the South East and all asset classes, including land, commercial and residential. 

The lender will also consider potential development sites as well as refinancing completed units.

Loans will be secured by first legal charge on the site.

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