Pluto Finance launches new streamlined bridge product
Pluto Finance has launched a new streamlined bridge product, offering a streamlined credit process for a variety of property assets from land to retail, with loan sizes from £750,000 to £5m, at up to 75% LTV, with rates starting at 0.44% per month.
The new streamlined bridge product has been designed to improve responses to enquires, with an estimated turnaround of terms within three hours, with new additions to Pluto Finance’s legal panel and simplified rate cards for various scenarios to make client and broker understanding of pricing and leverage easier.
Simon Chapman, Pluto Finance’s lending director, comments: “In addition, we have introduced valuation panel management to further enhance the speed of decision and understanding of wider geographic locations. With a new slimmer security package and simplified facility letter, the enhanced completion mechanics also include using DocuSign to speed up the completion process.”
In addition to the new streamlined bridge product, Pluto Finance’s lending products include senior development, stretched senior development, bridging and PRS term loans.
Pluto Finance is backed by some of the world’s largest institutional investors and is currently funding the development of over 2,000 new homes in the UK. In 2021, Pluto Finance signed a new partnership with the UK’s largest private pension fund USS (the Universities Superannuation Scheme).