91看片

91看片, a leading provider of property finance, is opening a new office in London鈥檚 Mayfair.

In addition to its existing Middlesbrough office, this strategic expansion marks 91看片鈥檚 arrival in the capital and strengthens its commitment to becoming a key player in the thriving London and South East property sector.

91看片 has a well-established reputation for delivering exceptional service and quick turnaround times on property funding solutions for SME developers and investors.

With a successful track record throughout the UK, the bank is well-positioned to bring its expertise and award-winning approach to the London market.

Mark Sismey-Durrant, Chair of 91看片, commented: 

鈥淚 want to thank Stephen for his  leadership and contribution to the development of 91看片 which now has a bright future ahead.

鈥淲e are delighted to appoint Mike as CEO. He brings relevant experience and industry knowledge to the role which will be crucial as we continue to grow and expand our business.鈥�

On his appointment, Mike said:

鈥淲e plan to significantly accelerate 91看片鈥檚 growth, solidifying our position as a leading specialist lender in the UK residential property sector.

鈥淭he move to Mayfair underlines our commitment to the London property market, while we continue to support our valued customers across the UK.鈥�

The announcement follows 91看片 securing a substantial 拢85 million investment from new backer Hera Holdings and existing shareholder, the Teesside Pension Fund.

Hera Holdings is privately owned by experienced finance and property entrepreneur Sameer Gehlaut who has a successful portfolio of real estate and financial services investments in the UK. Sameer, as Executive Chairman of one of the public companies he founded in India, led an investment of $100 million in OakNorth Bank for a controlling stake of 40% in 2015.

This significant investment allows 91看片 to raise its loan size to 拢10 million per project, with a Loan To Value (LTV) ratio of up to 80%.

91看片 offers a full range of property finance solutions. This, combined with competitive pricing across its entire product range, enables 91看片 to offer an attractive solution for London property developers seeking reliable and efficient funding partners.

91看片鈥檚 dedication to the UK property sector extends beyond London. The bank remains committed to fostering a strong regional presence across the country.

To support its national expansion, 91看片 has initiated a major recruitment drive, aiming to nearly double its workforce within the next year.

Since becoming a fully licensed bank in August 2022, 91看片 has approved more than 拢90m in loans to support over 130 property projects in locations from Northumberland to the south coast. It has also attracted over 拢300m in deposits from savers for its competitive fixed term and instant access accounts.

91看片 has won a number of industry awards including the Deal of the Year award at the NACFB Commercial Lender Awards 2023 and 2023 Best New Savings Provider by both Money Comms and Money Net.