Recognise partners with Galliard’s Reflex Bank

Recognise will part-fund a number of Reflex’s bridging loans, and has already provided over £10m funding for commercial premises and residential properties.

Reflex Bridging was set up and is run by senior executive directors at Galliard Homes, including executive chairman Stephen Conway, director of investment and developments Jonathan Morgan, and legal director David Hirschfield, legal director.

Recognise Bank was created to offer funding to SMEs that were being ignored by the big banks. It offers unregulated business lending, including commercial mortgages, bridging loans, professional buy-to-let loans, working capital loans and professional practice loans.

The bank has a network of business development managers and regional underwriters based at hubs in London, Birmingham, Manchester and Leeds.

In two years, Reflex Bridging has completed 45 loans totalling £113m.

David Hirschfield said Recognise had been able to conclude each funding at speed. “Helping to get acquisitions completed quickly and satisfying the needs of our ultimate borrowers is of vital importance to Reflex,” he added.

Jonathan Morgan said: “In a short space of time Recognise has demonstrated to us that it understands the property sector and our business model. That know-how, plus the flexibility of the bridging facility, really underpins our trust in Recognise Bank as a new funding partner.”

Ben Peters, head of growth at Recognise Bank, added: “Personal relationships are vital to Recognise, and the new partnership with Galliard and Reflex exemplifies the value and importance of our approach.

“Reflex needs to act fast on acquisitions and by working with us they know we completely understand their needs and will be able to move quickly and efficiently to support their bridging loan requirements.”