Christmas comes early as Pluto Finance closes over £100m in the first week of December
Christmas came early to Pluto Finance’s borrowers this year, as the specialist lender made over £100m of new loans in the first week of December. The Pluto Finance team closed a record-breaking level of development and bridge lending early on in the festive season.
Loans last week include development funding for office to residential schemes in Buckinghamshire and Essex, development exit bridge in Bracknell and an acquisition bridge for a Leeds office building.
Speaking on behalf of Pluto Finance, Mario Ioannides said, “Whilst most of our competitors are already lost in the fog of Christmas lunches and arguing over who will get the Savills salmon this year, the Pluto team have once again knuckled down and delivered a large volume of complicated financing to extremely tight deadlines. I am particularly proud that over £90m of these loans have been to repeat Pluto borrowers, recognising the excellent customer service, pricing and flexibility that Pluto offer.”
With the recent hires of bridging specialists Simon Chapman and Chris Scott, Pluto Finance is looking forward to increasing bridge lending in 2020, as well as continuing to provide development finance at rates starting at 3.95%.
