Funding in Stages for a Property Development in Newcastle
Location: Newcastle, England
Funds made available within Stages
A property developer in Newcastle had planning permission to build six contemporary, semi-detached properties in a desirable part of the city.
The developer approached Lowry Capital partway through the development, needing funding to complete the project.
Lowry Capital provided £382,250 in stages in order to complete the development.
5 out of the 6 properties sold quickly, resulting in a healthy profit for the client.
The client was attracted Lowry Capital’s flexibility of funding and the ability to retain part of the proceeds from every sale, which greatly helped cash flow.
“My experience with Lowry Capital was fantastic. I was impressed with the speed of service, flexibility and client relationship.”
Development Works Progress
Our Development Funding:
- Lowry Capital is a lender of development funding. We provide loans of up to £2million 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.
You can learn more about our Development Funding Here.