Recognise Bank, a top financial solutions provider for SMEs, is excited to announce its record-breaking performance in bridging loan volumes for the first financial quarter, ending 30th June. With over £40 million in total value, this accomplishment showcases the bank’s expanding presence in the market and dedication to enhancing its bridging loan offerings.
The completion of numerous bridging loans during this period demonstrates Recognise Bank’s ability to deliver for its borrowers efficiently, at speed.
“My clients were so impressed that they will be using Recognise Bank for all development exit bridging loans in the foreseeable future,” compliments James Maunder Taylor, representing brokerage Kingfisher Property Finance. “The rapid turnaround was critical in order for my client not to miss out on this opportunity and once we’d approached Recognise, things moved very quickly.”
James Meigh, Director of Lending at Recognise Bank, commented on the bank’s Q1 performance, saying,”Our BDM team has had a fantastic start to the new financial year, and we are delighted to see our focused approach in this sector yield such positive results. We have successfully closed several significant bridging deals with strong counterparties, showcasing our ability to provide swift solutions for our borrowers. The use of Title Indemnity Insurance and dual legal representation have played crucial roles in our success.”
Despite a crowded bridging funding market, Recognise Bank’s experienced Business Development team and dedicated support staff have demonstrated their ability to meet even the most demanding timescales. Meigh further emphasised their rapid response capabilities, stating, “Recently, we successfully completed a £5 million+ bridging deal for a shopping centre in the Southeast, accomplishing the transaction in just 11 days.”
Recognise Bank obtained its banking licence in November 2021 and specialises in offering commercial property loans for SMEs, professional buy-to-let loans, as well as bridging loans for both commercial and residential properties and land.