Development Funding to Complete 6 New Build Bungalows

Development Funding to Complete 6 New Build Bungalows
Funded: £820,000
Location: Morpeth, England
Property Type: Residential
Funds For: Development
Timeframe: Multiple Stages

Our client had started a development project of 6 new build bungalows – all of which were partially built and already reserved.

The client needed immediate funding of £820,000, in order to pay off another lender and to complete the work on the properties, therefore allowing the sales to complete. Some of the funds were also needed for the client to purchase another development site which was a lucrative opportunity they didn’t want to miss.

The funding was completed during the COVID-19 lockdown so the team at Lowry Capital worked closely with the client and solicitors to quickly overcome logistical issues.

The client is now able to finish all six properties and complete the sales – making a healthy profit on the development, and is delighted that he was also able to purchase the land for his next project!

Construction Works

Exterior Works

Internal Works

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.