Pluto Finance, a leading property finance provider, is delighted to announce the successful completion of a £15.4 million loan to Backhouse Housing for Phase 2 of their new build development in Highworth, Wiltshire. This phase will deliver 40 open market houses and 13 affordable homes, continuing the high-quality design and house types that earned acclaim during Phase 1.
The loan, arranged at a competitive rate, reflects Pluto Finance’s commitment to flexible and tailored financial solutions. The deal includes a peak debt facility of £8.4 million, enabling Backhouse Housing to maximise leverage while meeting the specific needs of the project. Legal support was provided by law firm Brecher.
“We are proud to support Backhouse Housing in delivering much-needed homes in Highworth,” said Jonathan Scott, Lending Director for the South West & Wales at Pluto Finance. “This project is an important step in addressing the growing demand for high-quality housing in Wiltshire and Swindon. By providing flexible financing, we’re enabling the development of both open market and affordable homes, ensuring the local community benefits from sustainable growth and improved housing options. Partnering with developers like Backhouse Housing, who are dedicated to providing affordable housing alongside high-quality design, aligns perfectly with our values as a lender and our mission to address housing challenges across the UK.”
Pluto Finance is committed to supporting projects that make a meaningful impact on local communities, driving forward housing development across the UK while maintaining a focus on quality, innovation and affordability.
Read the orginal article: https://ffnews.com/newsarticle/funding/pluto-finance-provides-15-4-million-for-highworth-housing-development-expansion-in-wiltshire/
