Pluto Finance launches lending product for professional landlords
Residential development funding provider Pluto Finance has launched a lending product for professional landlords in the UK’s private rental sector.
With loan sizes from £5m to £50m, Pluto Finance will provide loans to professional landlords of up to 65% loan-to-value (LTV) for fixed terms of ten years or longer, at a margin of approximately 2.5%.
The lender is looking to make over £200m of residential investment term loans by March 2021.
Simon Chapman, lending director at Pluto Finance, said: “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 [property redress scheme (PRS)] landlords on very attractive terms.”