Recognise provides £5m loan in 11 days

The nine-month term 68% LTV facility to property developer Cayuga Developments Ltd will also assist in the purchase of two further shopping centres.

Recognise turned the deal around in 11 days to avoid losing the opportunity, and a bridge was required because the client is awaiting planning permission for residential development above the retail units prior to exiting via a development facility.

Andy Keehner, BDM at Recognise (pictured above), commented: “It was a fantastic effort by our loan management team, the valuation team at Kroll and fast-acting solicitors at Lawrence Stephens.

“Our commitment to investment in digital technology means we are geared up to help push through decisions quickly and smoothly.”

James Maunder Taylor, director at brokerage Kingfisher Property Finance, added: “The rapid turnaround was critical in order for my client not to miss out on this opportunity and once we’d approached Recognise, things moved very quickly.”