Revised pricing offers flexible funding options for professional landlords and property investors
Property development lender Pluto Finance has announced revised pricing for its Landlord Solutions product.
The updated offering now features fixed interest rates from 0.62% per month, with both fixed and floating rate options available.
Designed for professional landlords and property investors, Landlord Solutions provides funding for property acquisitions, refinancing, refurbishments, and conversion projects. The product caters to various property types, including residential, mixed-use, houses in multiple occupation (HMO), student accommodation, commercial assets, and conversion projects.
For residential and mixed-use properties where residential makes up more than 50% of the asset, rates start at 3% over the Bank of England (BoE) base rate or 0.62% per month for loans with an LTV of less than 60%. For LTVs under 65%, the rate increases to 3.25% over BoE or 0.64% per month, and at 70% LTV, the rate is 3.75% over BoE or 0.68% per month.
For commercial and mixed-use properties where residential makes up less than 50%, loans with LTVs under 60% are priced at 4.5% over BoE or 0.74% per month, rising to 4.95% over BoE or 0.78% per month for LTVs under 65%.
When it comes to residential refurbishment or finish and exit projects, the rates begin at 3.75% over BoE or 0.68% per month for LTVs below 60%. For LTVs under 65%, the rate increases to 4.25% over BoE or 0.73% per month, while loans at 70% LTV are priced at 4.75% over BoE or 0.77% per month.
Lastly, for commercial to residential conversion or finish and exit projects, rates start at 5% over BoE or 0.77% per month for loans under 60% LTV. For LTVs below 65%, pricing rises to 5.5% over BoE or 0.81% per month, and for loans at 70% LTV, the rate is 5.95% over BoE or 0.85% per month.
“We recognise the importance of transparency in the lending market,” said Mario Ioannides (pictured), associate partner at Pluto Finance. “Our updated rates reflect our ongoing commitment to providing competitive and flexible financing solutions for landlords. Whether acquiring, refinancing or undertaking refurbishment or conversion projects, our Landlord Solutions product ensures our clients have tailored funding that supports their investment strategies.”
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