Record funding deal helps housing development take shape

A HOUSING development in a sought-after area of the North East is taking shape with the help of GB Bank.

The Teesside-based bank has provided a residential bridging solution to developer Bede Homes to help with the creation of a £15m development of 21 executive homes in Yarm.

GB Bank quickly swung into action after being contacted by the developer when there was a delay in the sale of the properties.

Thanks to its streamlined decision-making process and in-depth local knowledge, GB Bank was able to organise a finance solution in the space of just five days – a record for the bank.

Matt Gray, Relationship Manager at GB Bank, said: “We pride ourselves on being able to act quickly if the customer requires it, but this was very fast even by our standards!

“Bede Homes is a well-known property company in our native North-East with an excellent track record, we worked quickly and efficiently together, without compromising our credit risk procedures, to ensure the customer received the vital funding in the timescale required.

“By using local professionals with a real ‘can-do’ attitude and maintaining high levels of communication throughout, we managed to complete the financing in just five working days.”

Joe Doherty of Bede Homes said: “Matt and the team at GB Bank provided an exceptional level of service.

“It really was a remarkable achievement to go from enquiry to draw down in five working days. This is certainly something GB Bank can take a great deal of professional pride in.”