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Bridging

Recognise Bank completes record £27m in bridging lending in August

Shekina Tuahene
Written By:
Posted:
September 19, 2023
Updated:
September 19, 2023

Specialist lender Recognise Bank has achieved a record £27m in bridging loans lent during the month of August.

This follows the news that its bridging business for the first three months of its financial year, covering the period to June, reached a high of £40m. 

The lender also said it received a 100 per cent broker satisfaction rate during August, while its net promoter score came to 84. 

According to its post-completion satisfaction surveys, brokers told Recognise Bank that they would work with the lender again. 

James Meigh (pictured), director of lending at Recognise, said: “Bridging remains a key product for Recognise Bank and we’re delighted with the positive response we have received from our partners and customers. 

“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.” 

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Earlier this year, Recognise Bank said that it wanted to “significantly grow” its lending book.