This facility is available to housebuilders delivering at least 50 homes per annum across multiple sites.

The facility size can range from £10m to £75m, and can be tailored to meet individual housebuilder requirements and business plans.

With this, Pluto will support up to 75% of a housebuilder's land and work in progress with a term length of up to five years.

Security will be individually structured and include first ranking property security, debenture/floating charge, cost overrun and cross collateralisation of individual sites.

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“We are only too aware of the challenges facing SME housebuilders in the UK in financing their businesses and their ability to deliver much needed housing,” said Jamie Drummond, lending director at Pluto Finance (pictured above).

“We wanted to give them access to a revolving facility similar to that available to the large national housebuilders which will allow them to make much more efficient use of their balance sheet capital.

“We are able to support housebuilders throughout the UK and each of our lending directors is ready to discuss their needs and provide an individually structured RCF.”