There has never been a shortage of talent and entrepreneurial flair in the property sector across the North. Companies have grown despite a well-documented funding gap compared to the South-East.

It is promising to see the government promising to Build Back Better from the pandemic and address the regional disparities that have plagued the country. We are already seeing the early benefits of this focus with events like UKREiif working to unlock inclusive economic growth.

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The event in Leeds in May 2022 will enable the UK to Build Back Better by connecting investors, developers, the public sector, funders and end-users to inward investment.

It’s an approach that is aligned with the values and mission of GBB. Headquartered in Middlesbrough, GBB will get Britain building by providing property development loans of between £1 million and £5 million, with 90% of lending supporting regional property developers, small and medium-sized businesses, and construction companies.

Across the North, our team will lend £3 billion over five years funding almost 20,000 homes and several million square feet of office space, supporting the creation of over 100,000 jobs. For savers, competitive fixed rates will be protected by the Financial Services Compensation Scheme (FSCS).

Accessing finance remains a challenge for many developers, and we plan to make that an easier, faster and more straightforward process. The team at GBB is passionate about driving and supporting the movement to level up the North, get Britain building again, creating more homes and spaces, and drive economic prosperity in local communities.

As UKREiif will showcase the scale of development progress and potential of the industry, GBB will help connect the sector and supercharge growth with much-needed investment.

Small housebuilders are essential to building the homes this country desperately needs, but they often can’t access affordable finance. GBB is built from the ground up to become an engine of economic growth for regional SME developers by providing bespoke secured finance underpinned by long-term relationships that build trust.

GBB aims to be the finance partner of choice for the property sector in the North and puts excellent service at the heart of the strategy. Our plans will initially support residential property development projects of around 10 to 40 houses and commercial properties of between 1-3,000 square metres across the Northern Powerhouse regions.

GBB is led by an experienced management team and has formally applied to the Prudential Regulation Authority (PRA) for a licence to trade as a bank. It will provide tailored lending to regional SME property developers for both residential and commercial property development and fixed-rate savings products to retail customers.

GBB customers will see a relationship-centred approach that is unlike anything else on the market. When combined with underwriters who meet our customers,  local knowledge and market-leading, cloud-based technology, it creates a new kind of bank that is wholly focused on the property sector.

GBB will use technology to help our colleagues to form close relationships with customers. They will be empowered with a deeper customer view and the tools to create better customer experiences. Customers will also benefit from locally based relationship managers who will be dedicated to understanding customers’ finance requirements and supporting their ongoing needs.

It’s a time of huge potential and promise with the public and private sector aligned to drive change. GBB will help to provide the funding that is the lifeblood of the property sector and build connectivity across the industry.  We look forward to seeing you at UKREiif.

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