Development Funding for a Luxury 5 Bed Detached House
Our client, an experienced property developer, required funding to build a detached 5 bed, high-specification house in Cheshire.
The client were keen to drawdown the funds in stages, in line with their schedule, to ensure finance costs were kept to a minimum.
Lowry Capital provided a loan of £100,000 when the property was at foundations stage and worth £250,000. The client used these funds to erect the structure. At this point the property was re-inspected by the original surveyor, who confirmed good progress had been made achieving an uplift in value to £350,000. In line with the client’s needs, we provided a further £70,000 (just 5 weeks after the original loan) and then provided further funding of £84,000 2 months later, when once again the surveyor confirmed further progress and another uplift in valuation.
“Our development funding is quick and easy to access. The client kept finance costs to a minimum by only drawing down further funds when required. The property’s projected value when complete is expected to be circa £700,000 generating an excellent profit for our client. At Lowry Capital we strive to apply our award winning service to the development finance sector. With minimum drawdowns of only £25,001 we can provide fast, flexible funding to ensure developments progress smoothly.“
Funding Stage 1
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Funding Stage 2
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Funding Stage 3
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