“Our expert management team acted promptly to tailor a financing solution that addressed the needs of all stakeholders, ensuring a swift release of funds within a very tight deadline.” – Paul Bagan, Recognise Bank
William Thompson Homes, a seasoned developer, successfully completed a development of seven luxury homes in Goosnargh, Preston, and is currently selling the final three. Recognise Bank stepped in to pay off the existing loan on these properties, which helps the client’s strategy to sell them when market conditions improved after the New Year. The additional funds also allowed the company to advance to their next project and keep their valuable tradespeople employed.
Paul Bagan, a Business Development Manager at Recognise Bank, commented, “Our client needed a bank that offered flexible financing options within a limited budget. They wanted to sell the remaining homes at the best possible price while maintaining their key workforce. Our team of seasoned managers quickly put together a loan that suited everyone’s needs and made the funds available in a very short time period.
Paul went on to say, “We also arranged a future staged repayment schedule that matches the expected sale prices of the homes. This setup means we’ll be ready to support William Thompson Homes with their upcoming needs.”
Chris Johnson from Bespoke Property Finance Consultants Limited, a reliable broker for the bank who brought in the borrower, added, “Our client required a lender that was capable of acting fast and with flexibility. Recognise Bank was the ideal match. By working closely with the bank and their team, we were able to fulfil the stringent deadline. We intend to continue our cooperation as the homes are sold and the loan is repaid.”
