Development Funding for a Five Bedroom Detached House

Funded: £293,000

Location: Leeds, UK

Property Type: Residential

Funds For: Development

Timeframe: Client Deadline

Our client, an experienced builder, approached Lowry Capital to fund the build of a 5-bedroom detached house on land that the client already owned. The client was keen to release funds in stages, in line with their schedule of works. By drawing only the funds needed imminently, the client has kept funding costs to a minimum. (Many other traditional development funders have a high minimum drawdown, which results in developers paying interest on funds that are not yet required.)

We have provided five tranches of funding to date totalling £293,000.

By not needing to involve Quantity Surveyors, the clients have taken advantage of our streamlined development process and the project is progressing on time and on budget.

The property has now been sold for £600,000 prior to it being finished, realising an excellent profit for the developer.

Development Site

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.

You can learn more about our Development Funding Here.