Recognise Bank sees record bridging lending volumes in Q1

The bank said this demonstrated its growing presence in the market and “dedication” to its bridging proposition. 

Recognise Bank has been focused on its growth strategy, following a £25m cash injection at the end of 2022 and plans to significantly increase its lending book. 

James Meigh, director of lending at Recognise Bank, said: “Our business development manager 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.” 

Recognise Bank gained its banking licence in November 2021. It offers commercial loans for SMEs, professional buy-to-let loans and bridging loans for commercial properties, residential properties and land. 

Earlier this year, it announced its intention to launch an asset finance division.