Selina Finance has launched a five-year fixed product with no early-repayment charges (ERC) on its high loan-to-value range above 85% LTV. The specialist lender announced the launch alongside a series of criteria updates designed to widen borrower eligibility. Selina’s latest product is intended to allow borrowers to secure rate certainty while maintaining the flexibility often required when raising capital through a second charge loan.

Pluto Finance has announced the appointment of Hugo Trower as the company’s new lending director. Trower has joined Pluto from Barwood Capital, where he spent seven years helping to establish the firm’s residential investment business. Most recently, Trower has served as chief operating officer of Barwood Capital’s residential platform, which provides joint venture equity to SME housebuilders.

United Trust Bank has provided a £35m stabilisation loan for a £56m build-to-rent conversion scheme close to Heathrow Airport. The scheme, comprising 169 letting apartments and ground floor commercial space, has been completed by real estate development and investment company Gold Wynn. The loan, structured by UTB’s structured property finance team, helped to refinance Gold Wynn’s existing facility to reduce ongoing finance costs and release equity to be employed in another pipeline development in London.

---