Development Funding for a Luxury 5 Bed Detached House

Development Funding for a Luxury 5 Bed Detached House
Funded: £254,000
Location: Cheshire
Property Type: Residential
Funds For: Development
Timeframe: 3 Stages

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

Funding Stage 2

Funding Stage 3