One Stop Business Finance

Charworth Homes secures £850,000 loan from One Stop Business Finance for housing development's final phase

One Stop Business Finance has provided a £850,000 loan to Charworth Homes for the third and final phase of its Frederick Fields scheme in Barton-upon-Humber, North Lincolnshire.

The development — located on Marsh Lane — represents a total investment of £2.1m, and is the largest to date by family-run Charworth Homes.

The facility will allow the bespoke housing developer to complete the new units by November, and enable it to plan ahead with the progression of a number of other housing schemes.

Properties in the first two phases, which included the renovation of a period cottage, have already sold.

The developer also experienced strong interest in the final six detached homes, with five sold off-plan.

Clare Pearson, director at Charworth Homes, said: “We’re delighted to have agreed this final funding element for our Fredericks Fields development and push ahead with construction, especially given the delays we’ve faced during 2020 as a result of the Covid-19 pandemic restrictions. 

“One Stop Business Finance have been a really supportive finance partner, who have been instrumental in helping us to bring this development to fruition, as they have with previous projects, and we look forward to working with them again in future.”

Andrew Mackenzie, MD at One Stop Business Finance, commented: “Charworth Homes are building an excellent reputation for bespoke homes, that benefit from the personal touch of Clare and James [Pearson, co-director at Charworth Homes] throughout the build and sales process, and that is clear to see in all the properties they’ve completed to date.

“We’re extremely pleased to have been able to help them by providing them with a flexible facility to access the funds they need when they need them in a way that most mainstream banks are unable to facilitate.”

He also thanked Ben Slack at Clarion Solicitors, who undertook the legal work on this deal.

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