A new challenger bank is hoping to capitalise on Boris Johnson’s ambitions to “level up” the north with plans for a £3bn lending boost to the regional housing market. GBB will be based in Newcastle and is aiming to fund up to 25,000 homes over the next five years, focusing on areas likely to benefit from the recently-confirmed HS2 scheme as well future Northern Powerhouse rail projects. The venture, founded by Newcastle-based entrepreneur Stephen Black, is looking to fill a gap in the market by targeting experienced regional developers and construction companies with loans of up to £5m. Steve Deutsch, GBB chief executive, said the bank would aim to address the lack of traditional bank funding for smaller developers outside London and the South East after obtaining a full banking licence next year. It aims to lend around £600m a year and build a £1bn-plus balance sheet....