It’s a few years since I finished my PhD, so things may have changed a bit.
First, it may depend on the subject, but you don’t need a PhD to be a lecturer. However, it does seem to be the most common route to switch into lecturing whilst doing your research. I taught part time for 4 years while I did my post-grad work. I was offered a post after I finished my research programme, but turned it down.
As for funding you really need to discuss that with the research department. I was lucky enough to get supported through a scholarship. Together with my teaching pay this was enough to see me through my research without any debt. A few of my colleagues were being funded my commercial companies who had interest in a particular piece of research. When I started there was also the possibility of EPSRC funding, not sure if that’s still available though.
-j