Parameters
Asset type New builds and refurbishments, Part built development, Flats and/or houses
Loan size From £10m up to £300m
Maximum gearing Up to 90% of cost & 70% of GDV
Margins from 3.8%
We consider each potential development project on its own merits but some key considerations when appraising a residential or mixed-use scheme include:
- Borrower experience in the residential and mixed-use sector
- Location
- The proportion of reasonably priced accommodation for occupation by domestic buyers
- Viability of exit through refinance or sale
- For mixed-use schemes, we generally accept up to 30% of the overall GDV which can be made up of the commercial element although we have accepted more than that in certain developments in the past.
"The number of returning borrowers specialising in residential developments that we are seeing is a true testament to the high standards Maslow holds itself to. With our dedicated residential lending desk that understands the intricacies of the real estate asset class, our borrowers can be assured that they will be fully supported by a highly experienced team throughout the entire length of the project."
