Demand Surges for GB Bank Products

Property developers, investors and introducers have been queuing up to take advantage of GB Bank’s unique range of lending solutions.  The recently launched product lineup has been cleverly designed to address every stage of the property development life cycle and beyond.

January and February may traditionally be quieter months of the year for the property sector, but that certainly hasn’t been the case for the first two months of the community-focused bank’s first full year of operation.

Enquiries have been coming in thick and fast from around the country for products right across GB Bank’s comprehensive lending range. 

While enquiries have come from every corner of England, it’s fantastic to see so many of those looking for financial solutions to help fund their projects and developments are from Teesside-based GB Bank’s North-East heartland.

A total of 36% of all loan enquiries have come from the region, a reflection of both the enduring appetite to develop property projects in the North East and the strong regional networks, reputation and know-how of GB Bank’s Relationship Managers and their passion for the region.

The figures also provide ample evidence of GB Bank’s unique market proposition and its raison d’etre: that the North of England – and the North East in particular – lacks neither drive or determination when it comes to property development, but has previously been under-served by traditional banks and other lending providers.

Recent figures from the National Association of Commercial Finance Brokers (NACFB) showed just 2% of their members saw the North East as their primary funding area. With such crucial funding for the building of much-needed homes and community developments going to other areas of the country, it has previously left the region rather short-changed: until now.

The arrival of GB Bank is helping to fill this funding gap, providing funds for the communities which need them most and helping to make developments, which might never have made if off the drawing board, become a reality.

GB Bank’s Chief Commercial Officer Rob Lankey said: “We know that there has been a huge gap in the property development finance picture where SME developers with knowledge, experience and drive were unable to access the funding solutions they needed to bring their projects to life and transform their communities.

“Traditional lenders can lack the in-depth knowledge of the property development sector and operate under very rigid criteria which often excludes small to medium sized developers.

“Even specialist lenders can fall short by offering products which only address certain points in the development journey.

“By combining local knowledge and a personal touch with hi-tech processes, GB Bank is able to offer a wider range of long-term and short-term lending solutions, for both commercial and residential projects, to developers at all stages of the property life cycle as well as speeding up the decision process.

“What’s more, we have Relationship Managers, working with their Credit Partners, providing ‘boots on the ground’ support across the northern regions and more to come.  All of our people have a genuine passion for lending to support the regions most in need of investment and a drive to provide greater opportunities for SME developers and property investors to grow.’’

GB Bank’s busy January and February comes despite some significant challenges for the construction sector, high inflation and Bank of England interest rate rises.

The level of enquiries already pouring into the bank, which received its full banking licence in August 2022, confirms the strong appetite from developers, investors and introducers for lending products which provide real solutions.

Rob Lankey said: “From Seaham to Southport, Hexham to Huddersfield, there is absolutely no question that the demand is there.

“We’re seeing with the right, specialised support on the finance side, under-served regions in the country have the drive to get property projects done – and GB Bank is perfectly positioned to deliver that support, with our knowledge, passion, and drive to help communities across the UK that need it most.”

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