North East housebuilder set for growth with new six-figure funding

A North East housebuilder is expanding across the region thanks to a new funding arrangement with MAVEN Bonds.

County Durham developer Homes by Carlton has secured a £800k bridging loan to acquire land for new homes in Stockton-on-Tees.

The firm, which is headquartered in Newton Aycliffe, recently used a £300k finance package to fast-track construction work on the Cathedral Gates residential development in Chilton.

Simon Walker, managing director of Homes By Carlton, commented: “I’m really pleased that we’ve managed to secure bridging and development finance with MAVEN Bonds.

“After we quickly sold the first ten homes at Cathedral Gates, we wanted to speed up the construction process on site and the loan enabled us to do that.

“Working with MAVEN Bonds was a pleasure; having secured the loan rapidly, we’ve been able to start construction work sooner than anticipated and we also have additional finance in place to move quickly on our Thorpe Thewles development.”