Pluto Finance funds Galliard Homes' 50 unit London Scheme
Pluto Finance (www.plutocapital.com) has closed a new £12.5 million loan to Galliard Homes
for a new 50-unit residential development in Leyton, London E10.
Located in the Leyton area, which continues to see significant regeneration, the Tallack Road site is in walking distance to numerous rail and tube links, including Leyton station which serves the Central Line and Walthamstow Central, which connects the Victoria Line and London Overground services. Development of the Leyton scheme is due for completion in 2020.
Mario Ioannides, Lending Director at Pluto Finance, says “We have been lending to Galliard Homes since 2014, working closely with the team on developments across the South East and we are delighted to be funding their latest scheme in Leyton. At only 60% LTV, we were able to offer a cheaper interest rate than the clearing banks.”
“We have a number of live development loans with Pluto Finance,” says Jonathan Morgan, Director of Investment and Developments at Gilliard Homes (www.galliardhomes.com). “They continue to offer a market-leading combination of pricing and pragmatism and we are very pleased to extend our cooperation to our new Leyton project.”
Pluto Finance is a specialist residential development lender focusing on stretch senior, senior and bridging loans. Pluto's investors are top-tier global financial institutions.
Actively lending since 2011, Pluto Finance is currently funding the construction of around 2,000 new homes.
Independently owned, Pluto Finance provides a fast turnaround time and an excellent quality of customer service. Over half of Pluto's loans are made to repeat borrowers.