Development Funding for a Large Four Bedroom Detached House
Our client, an experienced builder and his partner, approached us seeking development finance for a large 4 bedroom family home
They had initially secured financing from another lender, but after making amends to the planning permissions, their lender was unable to provide any more funding.
At the time of application, the build had reached the superstructure stage, with foundations, drainage, and a sewage treatment plant already installed, inspected, and approved by Building Control.
Lowry Capital have provided £270,000 over 2 tranches so far, and with our funding they have been able to resume progress of the build.
Our streamlined lending process meant a fast turnaround from application to having the funds released which the client was delighted with.
Lowry Capital are happy to fund single build developments and in this instance fund a property where development had already progressed.
The end value of this property is expected to be £1.8million, which will generate a healthy profit for our clients.
Client Testimonial
"We were looking for a funding partner to support us in our project of building a large self build residential property. Our broker supplied us with a number of companies that could possibly help us with this. Following us working through the list of contacts, Lowry Capital were the ones who stood out heads above the rest.
From the outset, they had a clear understanding of what we wanted to achieve and they worked with us to ensure a smooth set up and a suitable funding package was offered.
Lowry are professional and easy to deal with. They always answer the phone/call you back and more importantly you are given one point of contact, meaning when to call they know who you are and the details of you project.
We have nothing but praise for this company and highly recommend them as a funding partner."
Development Site
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Our Development Funding:
- Lowry Capital is a lender of development funding. We provide loans of up to £4million within a few days.
- As a principal lender, we lend our own money and make our own common-sense lending decisions.
- We provide an award-winning service and you will always deal directly with a decision maker.
- No upfront arrangement fees, no solicitors cost undertaking, we share a genuine desire to get a deal done.
- Hands off lending approach: You choose and manage the professionals and contractors for your development.
- Previous development experience not essential.
- Our streamlined and highly efficient lending process guarantees ease of funds and speedy delivery.
- We provide developers with flexible, bespoke funding, tailored to fit your schedule of works.
- Funds can be drawn down in multiple tranches and you will only pay for the money actually drawn, keeping finance costs to a minimum.
- Our funding helps with your cash-flow and allows you to keep significant funds from the sale of units.
- Development funds can typically be drawn-down within 10 days.
- No proof of income required.
