Pluto, which trades as Pluto Finance, is a specialist property lender focused on senior and stretched senior development finance for residential schemes, including build-to-sell and build-to-rent. In October 2022, Property Investor Today reported that it lends in England and Wales, and that four senior development loans it closed that summer ranged from £7 million to £51 million. Bridge & Build Finance is an independent broker and is not part of Pluto, so we can compare its terms with banks and other development lenders.
About Pluto
Pluto was founded in 2011 and is based in London. In 2022 trade press described it as a specialist property lender providing development and bridging finance in England and Wales. It is a non-bank lender funded by institutional capital: in October 2022 Property Investor Today reported it to be part-owned by the Universities Superannuation Scheme, with other investors including pension funds, insurers and global financial institutions, and to have lent more than £2.5 billion, funding over 10,000 new homes.
Pluto emphasises patient, long-term capital and borrower relationships. Trade press has reported a run of senior development loans, from London and the South East to the Midlands, including, according to Development Finance Today in January 2025, a £27.5 million build-to-rent loan that Pluto described as its largest deal in that region.
Pluto does not publish detailed criteria online, so everything below is drawn from industry reporting, with the date of each report given. Pluto is one of the lenders we compare for larger development finance cases.
What Pluto funds
Pluto does not publish current loan sizes, terms or leverage limits. Based on trade press reporting from 2022 to 2025, the broad picture is:
| Product | What it is for | Typical size |
|---|---|---|
| Senior development finance | Ground-up residential schemes and conversions, build-to-sell and build-to-rent | Not published; loans reported in 2022 ranged from £7 million to £51 million |
| Stretched senior development finance | Higher-leverage single loan, avoiding separate mezzanine, for suitable borrowers | Not published |
| Bridging finance | Site acquisition and short-term needs around development | Not published |
In October 2022, Property Investor Today reported that Pluto's senior development loans that summer averaged around 65% of costs, and quoted its chief executive as saying it lent up to 70% of costs. These figures are from 2022, are not current published criteria and will vary by scheme.
Our pages on stretch senior development finance and ground-up development finance explain how these structures work.
Who Pluto suits (and who it may not)
Pluto tends to suit:
- Experienced residential developers with schemes needing several million pounds or more.
- Build-to-rent and build-to-sell projects, including larger apartment schemes.
- Developers who want a single senior or stretched senior lender rather than a bank plus mezzanine.
- Schemes in England and Wales, including London, the South East and the Midlands.
- Developers looking for a long-term lending relationship across several schemes.
It is a poorer fit for small schemes below a few million pounds, first-time developers, self-builders, and anyone seeking a residential bridge or refurbishment loan. Developments in Scotland or Northern Ireland will usually need another lender.
What Pluto looks at
Like other institutional development lenders, Pluto will typically look at:
- Your track record delivering schemes of similar size and complexity.
- The development appraisal: land, build costs, contingency, fees and gross development value.
- Planning permission, including any section 106 or affordable housing obligations.
- The contractor, the build contract and the programme.
- The exit: unit sales, a build-to-rent investment sale or a refinance onto term debt.
- Your equity contribution and the strength of the borrowing group.
Pros and cons
Pros
- Specialist development lender founded in 2011.
- Backed by institutional, long-term capital.
- Can fund large residential and build-to-rent schemes.
- Senior and stretched senior options, which may avoid the cost and complexity of mezzanine.
- Relationship-led approach for repeat borrowers.
Cons
- Focused on larger schemes, with deals typically in the millions or tens of millions.
- Little published criteria, so fit is hard to judge without approaching the lender.
- Aimed at experienced developers.
- Reported in 2022 as lending in England and Wales only.
Going through a broker vs going direct
Pluto works with developers and intermediaries. At this scale, the difference between offers on leverage, margin, fees, covenants and drawdown terms can be substantial, and a bank, a specialist fund or a stretched senior lender may each suit a different scheme. Comparing several term sheets side by side is usually worthwhile.
We search the market for development finance, prepare your appraisal and approach suitable lenders, including Pluto where it fits. It is free to enquire, and any broker fee is disclosed before you proceed. See how development finance works.
Alternatives to Pluto
- Puma Property Finance: development loans from £10 million on larger schemes.
- Atelier Finance: development finance from £3 million, including higher-leverage options.
- Triple Point Private Credit: institutional development lending on residential schemes.
- Secure Trust Bank: real estate development lending from £2 million.
- OakNorth Bank: bank development finance from £1 million to tens of millions.
Common questions
What does Pluto lend on?
Pluto focuses on senior and stretched senior development finance for residential schemes, including build-to-sell and build-to-rent, and has also provided bridging finance.
How much does Pluto lend?
Pluto does not publish a loan range. In October 2022, trade press reported four senior development loans closed that summer ranging from £7 million to £51 million.
Where does Pluto lend?
In 2022 Pluto was reported as lending in England and Wales, with reported deals since then in London, the South East and the Midlands.
Does Pluto lend to first-time developers?
Pluto's focus on larger schemes means it typically works with experienced developers. First-time developers usually have more options with lenders that fund smaller schemes.
This review is our independent summary of the lender's publicly stated lending, checked in October 2026. Criteria change, so confirm the current position before relying on it. Bridge & Build Finance is an independent broker and is not part of any lender reviewed. Finance is subject to status, valuation and lender approval.
