Recognise Bank is pleased to announce the successful provision of a £3.6million bridging loan. The loan, completed in a swift 21 days from credit approval, refinanced a plot of land due for residential development and underscores Recognise Bank’s ability to deliver fast, flexible lending solutions for UK SMEs and property investors.
The plot of land benefits from planning permission for the development of two residential towers, providing 365 units, in Liverpool’s fabric district known as Islington Quarter. The borrower, David Cain, purchased the site out of administration in 2023 and has made various enhancements to the planning, and will use part of the funds to support the scheme’s delivery.
Recognise Bank’s tailored lending approach was pivotal in completing the transaction efficiently. The loan was led by Business Development Manager, Courtnay Orange and Loan Manager, Stephen Faulkner, who worked quickly with broker, Sinead Cowgill of Eight Finance Group Limited, marking the start of a new broker relationship for Recognise Bank.
Courtnay Orange, Business Development Manager at Recognise Bank commented, “We are proud to have supported David Cain with this significant bridging loan. Speed and certainty are critical in bridging finance and this deal demonstrates Recognise Bank’s credentials. It has been fantastic working with Sinead, who I’ve known for many years and we look forward to building on this relationship in the future.”
Sinead Cowgill of Eight Finance Group Limited, expressed the brokerage’s gratitude for Recognise Bank’s service stating, “This has been a fantastic first deal with Recognise Bank – Courtnay, Stephen and the wider lending team have been a great support and showed a real understanding of the borrowers needs. Their professional and proactive approach has been crucial, our mutual client was delighted with the service received and we look forward to working together again in the future.”
