FINANCE
His vast experience and expertise are fundamental for the business as we look to progress to the next stage of our development .”
Vast experience and expertise GB Bank CEO and co-founder Stephen Lancaster said : “ We are thrilled to have secured Mark ’ s services as chair of GB Bank .
“ His vast experience and expertise are fundamental for the business as we look to progress to the next stage of our development .
“ We ’ d also like to take this opportunity to thank Mike Kirsopp as he leaves us . Mike has been a valued and integral member of the team for almost three years , helping GB Bank in securing the full banking licence in August 2022 , and the ongoing development of the business since then .
“ We are incredibly grateful for Mike ’ s commitment to GB Bank and he leaves with our very best wishes as we welcome Mark as our new chair .”
Regenerating and building communities GB Bank uses regional knowledge and passion to regenerate and build communities in areas that need it the most .
It provides SME property developers and investors with funding solutions up to £ 3m for residential and commercial developments in under-served regions across the UK .
Savers also benefit , as the bank offers a no-nonsense range of fixed-term saving products with competitive rates , an easy online application process and peace of mind protection up to £ 85,000 by the Financial Services Compensation Scheme .
Winning feeling – GB Bank CEO and co-founder Stephen Lancaster accepts the Best New Business award at the Tees Business Awards . PICTURE : CHRIS BOOTH
Since securing its full banking licence in August 2022 , GB Bank has approved more than £ 73m worth of funding to more than 100 properties and developments across the country , including more than £ 16m on projects in the North-East .
Award winner Mark ’ s appointment comes at an exciting time for GB Bank , the first bank to have its headquarters in Middlesbrough .
In November , GB Bank was named Best New Business at the Best New Tees Business Awards after a stellar start to its life as a fully licensed bank .
CEO and co-founder Stephen Lancaster said : “ We were absolutely delighted to win the award because it recognised all the hard work so many people have put into the business to get it to where it is today .
“ It was also really special to be recognised by the people and the businesses of the Tees Valley , because this is home to us and it ’ s the place that gives us such a solid base from which to grow .
“ When you look at what ’ s going on in Middlesbrough and the Tees Valley at the moment , it ’ s an incredible place to be – why wouldn ’ t you want to be here with so many fabulous renewable energy firms and industries ?”
The bank was named Best New Savings Provider by industry publications Money Comms and Money Net , won Deal of the Year at the NACFB Commercial Lender Awards and was shortlisted for Best Bridging Newcomer at the Bridging and Commercial Awards .
Encouraging signs Looking to the future , after a testing few years for the property market , there are some encouraging indicators emerging , with prospects beginning to show signs of improvement on several fronts .
Property agent Knight Frank is now forecasting a three per cent rise in the value of homes over the coming year instead of its previous prediction of a four per cent fall .
A recent banking industry survey also found that more than a third of landlords who currently have four or more properties plan to expand their portfolios this year .
GB Bank ’ s range of bridging finance solutions have already proved popular with landlords looking to take on new properties or refurbish existing ones , so this bodes well for 2024 .
GB Bank welcomes conversations around future opportunities . Visit gbbank . co . uk or email lending @ thegbb . co . uk to find out more .
The voice of business in the Tees region | 35