Funding to Purchase a Development Plot in Rural Location
Our client had negotiated a favourable purchase price for a development plot in rural Scotland and needed funds to complete the purchase quickly.
Lowry Capital provided initial funds to purchase the plot and further funding to begin the building work. It is expected that the developer will return for further funding as the project progresses. Lowry Capital is able to tailor funding in line with build costs therefore developers only draw the funds actually needed, keeping finance costs to a minimum. This finished property will be a luxury detached house in an idyllic, rural location.
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.