Flexible and Bespoke Development Finance for 8 Luxury Homes
Our client, a highly experienced property developer in Scotland, had agreed to purchase a site on the outskirts of Glasgow for a new property development.
The property development when finished will consist of 8 luxury homes with a total GDV of £4.25m. We provided funding to purchase the site and further funding to progress the development, with total funding to date of £1.365million in 5 tranches – with further drawdowns of circa £1m anticipated.
It was vital to the client to have the flexibility to drawdown the funds as and when needed. By tailoring the funding in line with the client’s schedule of works, funding costs were kept to an absolute minimum.
“The client is a highly respected property developer who uses Lowry Capital for the ease and speed of funds we provide.”
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.