Development Funding for 38 Residential Properties
An experienced and skilled property developer needed funding to complete development of 38 houses with a GDV of over £8m in Dumfries and Galloway, Scotland. All the houses were already sold off-plan so the client was very keen to ensure the development was completed as quickly as possible to realize the significant profits on the development. It was important to the client that the funding was flexible and easy to draw. Lowry Capital provided an initial tranche of £1.9m which paid off the developer’s current lender and provided balance funds of £600,000 to progress the build. A further advance of £400,000 was then provided based on progress. It's expected that the total funding will be in excess of £4 million.
Assorted Plots and Development Progress
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.