17 new family homes in the North West, thanks to 14,000 investors

Last month, we visited Funding Circle borrower Forth Homes, who specialise in building affordable family homes across Merseyside and the North West. Launched in 2009, the business started out refurbishing properties, but in 2013 the four directors decided to grow the property development side of the business.

Since 2013, Forth Homes has built 32 new family homes, helping to address the current housing shortage we face. Looking ahead, they plan to build 60 houses in 2016 and 100s more over the coming years. Director Peter Foxcroft told us “we want to be able to provide the people of Merseyside and the North West with affordable homes.”

Forth Homes borrowed £3.2 million from over 14,000 investors through the Funding Circle marketplace to fund development schemes and purchase property in Liverpool. The developers are currently building 17, three and four bedroom, family homes across three sites. The houses will cost between £155,000 and £595,000.

The Funding Circle property product was launched in April 2014, and has since facilitated over £200 million in loans to experienced property developers, helping to build over 800 new homes across the UK. Funding Circle property finance specialist Parik Chandra has been working closely with Forth Homes for over a year, from assessing their schemes to monitoring progress and completion.

Property development loans were available between April 2014 and April 2017. If you work in the property industry and are looking for finance, we may still be able to help you with an unsecured loan up to £350,000 with a personal guarantee, or a secured loan up to £1 million.

Get an instant quote online or speak to our dedicated team today on 0800 048 8747.