Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Recognise Bank Surpasses £500m in Lending
Recognise Bank has surpassed £500 million in lending, with its loan book growing by more than 45% over the past 12 months. The bank’s deposits have also exceeded £600 million.
This milestone follows the opening of Recognise Bank’s operations centre in Milton Keynes and reflects ongoing demand for its lending services. The bank provides residential and commercial bridging finance, as well as commercial mortgages, supporting small and medium-sized enterprises (SMEs) and property professionals across the UK.
Since its launch, Recognise Bank has supported more than 350 borrowers. The bank was established to offer lending and savings solutions tailored to the needs of SMEs.
For UK letting agents and inventory clerks, Recognise Bank’s continued growth in bridging and commercial finance may signal increased activity and opportunities within the property sector, particularly for those working with SME landlords and property professionals.
Source: Mortgage Solutions