Recognise Bank has funded a £1.825m bridge to term facility for an experienced London landlord requiring capital for a property acquisition.
The deal was structured over 12 months before transitioning into a buy-to-let loan. Matthew Martin, co-founder and director at Align Property Finance, introduced the loan, which completed at 70% loan-to-value.
Recognise Bank provides lending and savings solutions for small and medium-sized businesses.
“By providing a term solution after agreeing the bridging finance, we could provide the experienced borrower with certainty and confidence,” said Paul Bagan, senior lending manager at Recognise Bank (pictured). “This case highlights our ability to provide creative and flexible solutions to SMEs and property investors.”
Martin added that he has worked with Bagan for several years and quickly established a strong working relationship since Align started. “I’ve been extremely impressed by the team at Recognise and by their ability to find creative solutions as and when required,” he said.
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