Funding for the Purchase & Conversion of a Bungalow With Huge Potential
Our client, a highly experienced property developer based in Scotland, identified a tired, old 2-bedroom detached bungalow with significant potential for uplift.
Their vision was to transform the property into a stylish, modern 5-bedroom home, dramatically increasing both its size and market appeal.
Lowry Capital provided £350,000 in funding, covering both the purchase and development costs.
Utilising our flexible, multi-tranche facility, our client drew down additional funds in stages, aligned with the progress of the build and their cash flow requirements.
The finished property is a prime example of how expert vision, combined with fast, tailored funding, can breathe new life into an outdated home, turning it into a modern, highly desirable living space.
The property is now on the market for £650,000, and the client is set to make a healthy profit.
Original Property:
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New Development
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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.
