Funding to Complete a Property Development in North Yorkshire
Our client was in the process of converting three barns into residential homes and building three further detached houses on the remaining land.
£970,000 was required for the client to complete the purchase (a delayed completion had been agreed), finish the three barn conversions and to progress the three new build properties.
Lowry Capital provided £970,000 for the development to advance. And because our Development Finance is flexible, the client also has the option of drawing down further funds from Lowry Capital as the development progresses.
“I was more than happy as all concerned were contactable and helpful in moving matters forward throughout the application process. The decision makers at Lowry Capital use common sense to make lending decisions, and always take a practical view, whereas some other lenders fail to do so.”
The Hay Barn
The Old Granary
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.