Maslow has announced its intention to fund primary ground up developments.
A spokesperson for the development finance firm said that Maslow has used the lockdown as a necessary period to assess the market and ensure its origination efforts are focused on the right opportunities. The reintroduction of lending for new projects is a sign of Maslow’s commitment to the residential, PRS, BTR and PBSA markets and to those experienced developers who continue to deliver on their ambitious plans.
Since its inception 11 years ago, Maslow has built a strong reputation as a consistent and reliable funding partner, having financed more than 220 projects which delivered in excess of £3 billion of GDV and plans to continue to build on that track record.
Maslow’s long-dated institutional capital allows it to be a consistent provider of funding through the market cycles. Notwithstanding the difficulties of the post COVID-19 landscape, Maslow is committed to the future of delivering housing across the UK and has assigned substantial capital to both primary and secondary lending activities going forward.
Ellis Sher, Maslow's CEO & Co-foounder, said: "We remain focused on core asset classes, staying true to our longstanding experience of funding residential and PBSA developments, whilst diligently sticking to the key lending fundamentals that have helped steer our credit decisions over the past decade. As the country begins to reopen, we look forward to playing our role in delivering much needed funding to the UK’s SME housebuilders.”
Maslow's Head of Deal Origination, Matt Pigram, commented: Maslow’s goal is to help support developers with a broad range of funding solutions. Our lending capabilities start at £5m and although we can lend significantly more than that, our average loan is £15m which dispels some of the misunderstanding that we only fund very large deals. We fund small, large, straightforward, and complex loans. Unlike the banks we are able to avoid some of the regulatory and credit rating pressures allowing us to be very flexible when it comes to loan size, scheme and borrower concentration exposures. We are witnessing our experienced developers adapting exceptionally well to the pandemic with new high-quality schemes that deliver core housing at accessible price points. Maslow are really well placed to support them now as we have always strived to in the past.”