Another Record Month for Recognise: £27m in Bridging Lending Completed in August alone and 100% satisfaction rating 

Recognise Bank has announced yet another strong month, with £27 million lent via bridging loans alone. The London-based bank has not only achieved remarkable lending success but is also proud to share a flawless 100% broker satisfaction rate*, along with a Net Promoter Score (NPS) of 84 according to this year’s post-completion surveys.

Recognise proved to be a lifeline for a borrower in Derbyshire whose bridging loan was unexpectedly withdrawn by another lender just days before completion. With the assistance of brokerage Real Finance Ltd, Recognise stepped in and efficiently provided a £400,000 bridging loan within two weeks of approval.

The bank’s ability to swiftly respond to unique demands was further exemplified via a £1.225million bridging loan to a London-based property company just two weeks after receiving the enquiry from Max Kyte of The Kyte Property.

This record lending amount comes just weeks following on from a stellar first financial quarter for the bank – which saw over £40 million in bridging lent to a variety of UK based property companies and investors.

Moreover, the bank was pleased to receive consistently impressive feedback from brokers and borrowers in their post-completion satisfaction surveys – with every broker giving high praise for their efficiency and confirming that they would be happy to engage in future deals with Recognise again. This has seen Recognise Bank’s Net Promoter Score (NPS) sore to an impressive 84.

“Bridging remains a key product for Recognise Bank and we’re delighted with the positive response we have received from our partners and customers,” says James Meigh, Director of Lending at Recognise. “I’m particularly proud of the speed in which we can respond to enquiries and facilitate requests, with many complex deals in the last month being completed within just two weeks. We look forward to building on this success for the remainder of the year.”