Equity Release to Provide Development Funding - Montrose, Scotland
Our client, an experienced developer, needed to release funds from his property portfolio in order to complete a new development of 4 houses.
To ensure the development continued to run smoothly, the client needed funds quickly in order to pay suppliers and tradesman. The client would then require further funding in stages to complete the development.
To ensure ease and speed of funds, Lowry Capital took security over 2 properties the client already owned. A residential property and a retail investment property in Montrose, Scotland.
We were able to value both properties within 48 hours and make the funds available within 8 working days.
Lowry Capital will also continue to make further advances available within 48 hours so the client has access to funds as and when required, in line with the schedule of work. This ensures that the development progresses smoothly and helps keep finance costs to a minimum.
“I’ve found dealing with Lowry Capital to be a very efficient and hassle-free experience. The speed at which my bridging finance was arranged was second to none and the staff could not of been more helpful. I look forward to dealing with Lowry Capital again in the near future.”
Mr Stark, Scotland Properties
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.