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GB BANK has concluded a funding deal in record time, moving from initial enquiry to delivered funds in less than a week.

The Teesside-based bank approved an equity release funding deal for a residential property in the space of just six days.

The swift turnaround enabled the borrower to save an £85,000 deposit for the property which they would have lost if they had been unable to meet the tight completion deadline.

������˾��’s lending team swung into action as soon as the lending enquiry was received.

Using close collaborative working, the team used AVM to ensure a swift valuation of the property and used Title Insurance to expedite the legal due diligence on the deal.

������˾��’s proactive credit team was able to support in a quick turnaround to the approved terms while solicitors working on the deal moved at pace – and out of office hours – to support the completion deadline.

Laleta Buctkuar, Relationship Manager at ������˾�� said: “Speed really was of the essence on this deal – the borrower’s original funding strategy was not going to come to fruition in time for the property’s completion date so we faced a real race against time to get the funding over the line.

“This was a real team effort, both from the different departments within ������˾�� and the external legal professionals, to turn this around so quickly and hence save the borrower a considerable sum of money.

“We pride ourselves on doing the job as efficiently and as quickly as possible and this was certainly the case with this funding deal.”

������˾�� was granted a full banking licence in August 2022.

It is a bank with a purpose – committed to supporting property developers with financial solutions throughout their development lifecycle.

������˾�� uses regional knowledge and passion to regenerate and build communities, boosting economic growth in regions across the UK that need it most.

Savers also benefit as the bank offers a range of fixed-term saving products with competitive rates.

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