Funds for a Century-Old Church to be Converted into Residential Dwellings
The client was an experienced property developer and required funding to convert a church into two, four-bedroom semi-detached properties.
Work had already started but funds were required quickly to enable the project to continue. Lowry Capital initially released £228,000 based on an OMV of £375,500.
As work continued on the property, re-inspections were carried out and which allowed us to provide 2 additional tranches totalling £85,600 to enable the client to complete the project.
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.