Funding to Purchase a Grade II Listed Residential Property at Auction
A property developer had identified a fantastic opportunity to purchase a Grade II listed residential property at auction.
We were approached by Gary, a broker at Bedrock Business Finance, to provide the funds for the client to purchase the property. As with all auction property purchases, time was of the essence and the client was obligated to complete quickly.
Lowry Capital has a specialist auction funding product, and provided £102,600 in order for the developer to take advantage of this lucrative buying opportunity.
It is expected that after a comprehensive refurbishment, the property will be worth over £495,000 resulting in a significant profit for our client.
Exterior and Interior
Our Development Funding:
- Lowry Capital is a lender of development funding. We provide loans of up to £3million 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.