Recognise Bank completes £2.95m bridging loan for Shrewsbury residential conversion

28 July 2026

Recognise Bank has completed a £2.95m bridging loan to refinance an office-to-residential conversion in Shrewsbury, enabling the developer to repay its existing development finance facility and complete the final stages of the project.

The case was introduced by Raj Vilkhou of Express Financial Services. The security is a newly converted six-bedroom residential property with a separate one-bedroom staff annexe, which has been finished to a high standard.

The bridging facility refinanced the incumbent development lender before its loan expired.

With the existing facility approaching its expiry date, Recognise worked closely with the broker and the other parties involved to maintain momentum. The Bank took a practical view of the transaction and used title insurance to address the relevant legal requirements, allowing the development lender to be redeemed within the required timeframe.

The transaction was led by Luke Beirne, Senior Lending Manager at Recognise Bank. The completion has also resulted in a further application from the same client for bridging finance secured against two newly renovated residential properties.

Luke Beirne, Senior Lending Manager at Recognise Bank, said:

“This was a strong example of how we can take a practical approach to a transaction and work closely with the broker to deliver within a tight timeframe. By using title insurance, we were able to complete the refinance before the existing development facility expired, while also providing the borrower with the funds needed to finish the project and move on to its next development.”

Raj Vilkhou of Express Financial Services added:

“Recognise Bank understood the requirements of the case from the outset and worked closely with us throughout the process. Luke and the team were decisive and took a sensible approach to the legal requirements, which gave our client the certainty it needed to repay the existing lender, complete the project and progress its future plans.”

To learn more about Recognise Bank’s commercial property lending, visit: https://recognisebank.co.uk/