Recognise Bank completes £1.96m commercial property loan for student accommodation scheme in Aberdeen
23 January 2026
Recognise Bank has completed a £1.96 million commercial property loan to support the refinance and onward development of a student accommodation scheme in Aberdeen.
The facility was agreed for an experienced property investor and developer operating in the student accommodation sector. The borrower had acquired a former office building in Aberdeen city centre and secured planning consent to convert the property into 52 self-contained student studios.
James Williams of Portway Finance introduced the nine-month facility, completed at 70 per cent loan-to-value (LTV), which enabled the borrower to refinance an existing lender within a tight deadline.
While the structure itself was straightforward, the case presented a number of considerations, including the commercial nature of the asset and LTV at the upper end of the bank’s range. These were supported by the quality of the asset, the strength of the planning position, and the borrower’s track record of delivering similar schemes.
Timing was also critical. To meet the refinance deadline, the bank accepted a re-type of a recent valuation report and used title indemnity insurance to allow the transaction to complete within the required timeframe. Scottish solicitors were instructed, indicating the bank’s experience of lending north of the border.
The deal was completed by Richard Winston, Lending Manager at Recognise Bank, and managed by Sasha Holland, Lending Operations Manager.
The lender has said that this deal builds on the momentum following the announcement, earlier in January, of a £556k residential bridging loan to support the renovation of an investment property in central London, while also releasing capital to support the borrowers’ trading business.
The bank’s proposition remains deliberately simple, providing flexible bridging finance for residential and commercial securities.
Richard Winston, Lending Manager at Recognise Bank, said:
“This case displayed a high level of experience across all parties. The borrower had a clear grasp of both the asset and the local market, and James and the team at Portway Finance set out the requirements clearly from the outset, allowing the transaction to progress in a controlled and structured way.”
“Timing was the main pressure point, but by taking a considered view on valuation and title, and by maintaining close oversight of the detail throughout, we were able to complete the refinance within the required window and move the scheme into its next phase.”
James Williams, Finance Broker at Portway Finance added:
“The timetable on this deal was tight, and the location and the LTV meant it needed a lender with the right appetite and experience. The team at Recognise Bank were clear, responsive and pragmatic throughout, which made the difference in getting this deal over the line.”
To learn more about Recognise Bank’s commercial property lending, visit:
