Bicton was a development of 5-bedroom houses in a village near Shrewsbury. It was split in 2 phases and Maslow became involved when the borrower was planning to undertake Phase 2. Maslow financed the repayment of an existing Bridging loan on Phase 1 that in turn allowed higher gearing on the second phase; this enabled the borrower to complete both phases successfully.
This development lies in a predominantly rural area, with a range of local facilities in the village and with further shopping and leisure outlets in the nearby Shrewsbury town.
“Maslow financed the repayment of an existing Bridging loan to enable both phases of the scheme to be completed”