What are the best alternatives to Recognise Bank?

Why consider alternatives to Recognise Bank?

Recognise Bank is a genuine UK bank. It was founded in 2017, took its full banking licence in 2021, and lends against property from a licensed balance sheet with a 4.7 Trustpilot score from 916 reviews. It aims to make contact within 24 hours of an online enquiry and to issue indicative terms within 48. For an established business with a solid property asset and a requirement above a quarter of a million pounds, that is a strong proposition.

The problem is that Recognise has drawn its box tightly, and it publishes exactly where the edges are. The minimum loan is £250,000 with no facility below it. Two years of trading history is mandatory. There are only two products, business bridging loans of £250,000 to £10 million and commercial mortgages of £250,000 to £3 million, both secured on property. There is no unsecured lending, no invoice finance and no asset finance. The credit rules are precise: no more than five satisfied CCJs in the last 3 years, no missed secured loan repayments in the last 12 months, and no bankruptcy, IVA or CVA in the last 3 years. And beyond a 9.50% per annum commercial Standard Variable Rate and bridging from 0.79% per month, the pricing is not published.

Most people who leave Recognise are not unhappy with the bank. They fall outside one of those published rules. So this guide is arranged by which rule pushed you out.

Top Recognise Bank alternatives

1. West One Loans, Best if you need less than £250,000 or a faster decision

West One solves the two most common Recognise exclusions at once. It lends from £50,000, a fifth of Recognise’s floor, and quotes bridging from 0.55% per month against Recognise’s 0.79% on residential security. It also commits to a credit decision within 24 hours and completion typically in 2 to 3 weeks, where Recognise publishes an indicative terms target of 48 hours and no completion timescale at all.

Rates and amounts: 0.55% to 1.3% per month on bridging, buy-to-let mortgages from 5.8% per annum; £50,000 to £20 million. Representative APR 11.2% on bridging.

Eligibility: No trading history required for property-backed bridging, and no minimum turnover. Adverse credit considered case by case, with second charge bridging available.

Pros: Lends from £50,000; 24-hour credit decisions; second charge bridging, so it can sit behind an existing mortgage; offers both regulated and unregulated bridging.

Cons: Primarily intermediary-only, so you will want a broker; the £20 million ceiling sits below Shawbrook’s and Together’s £25 million if you need the very top end; arrangement and legal fees apply as standard; development finance is limited.

Best for: Cases between £50,000 and £250,000, and any case with a hard completion deadline.

Regulatory status: West One Secured Loans Ltd is authorised and regulated by the Financial Conduct Authority, firm reference number 776026.

2. Shawbrook Bank, Best for a larger facility from a licensed bank

If you want to stay with a bank but need more room, Shawbrook lends £50,000 to £25 million, against Recognise’s £250,000 to £10 million on bridging and £3 million on commercial mortgages. It prices bridging from 0.55% per month and commercial mortgages from 5.5% per annum, both below Recognise’s published starting points, and issues indicative terms within 24 hours rather than 48.

Rates and amounts: 0.55% to 1.25% per month on bridging, commercial mortgages from 5.5% per annum; £50,000 to £25 million. Representative APR 10.8% on bridging.

Eligibility: No trading history required for property-backed bridging, 12 months or more preferred for other products. Business loans need £200,000 or more of turnover and good credit. Moderate adverse credit considered on property-backed products.

Pros: £25 million ceiling; indicative terms within 24 hours; deep track record on HMO, portfolio landlord and semi-commercial cases; business loans available from the same bank.

Cons: Slower than fintech bridging lenders on simple deals; minimum deal sizes exclude very small transactions; business loans require solid trading history and filed accounts; limited branch or telephone presence.

Best for: Established property investors who like the bank relationship Recognise offers but need a bigger facility or a lower entry rate.

Regulatory status: Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 204574.

3. Allica Bank, Best for a larger commercial mortgage with published loan pricing

Recognise caps commercial mortgages at £3 million. Allica goes to £10 million on owner-occupied property and £15 million on investment property, five times Recognise’s ceiling. It is also more transparent on the lending it does price publicly: unsecured business loans of £25,001 to £150,000 at 9.90% to 13.75% per annum, with decisions typically no later than the next working day.

Rates and amounts: 9.90% to 13.75% per annum on unsecured business loans of £25,001 to £150,000, with a 3% arrangement fee. Commercial mortgage rates are individually quoted, with a 1.5% arrangement fee on owner-occupied and 2.0% on investment property. Overall range £25,001 to £15 million.

Eligibility: 3 or more years of filed accounts for unsecured business loans, 2 or more years of financial accounts for commercial mortgages. Limited companies and LLPs registered in England, Scotland or Wales. Applicants must demonstrate at least 150% debt service cover.

Pros: Commercial mortgages up to £15 million on investment property; published rate band on unsecured lending; next-working-day loan decisions; no early repayment penalties on unsecured business loans; a business bank account alongside the lending.

Cons: The 150% debt service cover requirement excludes lower-margin businesses; 3 years of filed accounts for a business loan is stricter than Recognise’s 2 years of trading; commercial mortgage pricing is still bespoke and not published; nothing below £25,001.

Best for: Established limited companies buying or refinancing property above Recognise’s £3 million commercial mortgage cap, especially those that also want unsecured borrowing.

Regulatory status: Allica Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 821851.

4. Together, Best if credit history or trading history is the blocker

Recognise’s credit rules are hard limits: five satisfied CCJs in 3 years, nothing missed on secured borrowing in 12 months, no insolvency event in 3 years, and 2 years of trading. Together has been lending since 1974 and treats adverse credit as a case-by-case question rather than a filter, and requires no trading history at all for property-backed lending. That flexibility is priced in, with a range running to 1.5% per month.

Rates and amounts: 0.55% to 1.5% per month; £50,000 to £25 million. Representative APR 11.4%.

Eligibility: No trading history required for property-backed lending and no minimum turnover. Adverse credit and non-standard income considered case by case.

Pros: More than 50 years of specialist lending; no trading history requirement; adverse credit assessed individually; indicative terms within 24 hours; covers bridging, commercial mortgages and development finance.

Cons: Higher rates than mainstream commercial mortgages; a clear and viable exit strategy is mandatory on bridging; arrangement fees and legal costs add to the total; no unsecured working capital.

Best for: Borrowers who fail one of Recognise’s credit or trading rules but have a solid property asset and a credible exit.

Regulatory status: Together Financial Services Limited is the group holding company and does not itself hold an FCA firm reference number. Its regulated lending entities include Together Personal Finance Limited (firm reference number 305253) and Blemain Finance Limited (firm reference number 719121). Confirm which entity your facility sits with.

5. Hampshire Trust Bank, Best for a £35 million ceiling and a completion target

Hampshire Trust Bank has raised its per-customer lending ceiling to £35 million, three and a half times Recognise’s £10 million bridging cap. More usefully for anyone frustrated by Recognise’s silence on completion timescales, HTB publishes a target of 21 days from application to completion on bridging, supported by dual legal representation, and charges no early repayment charges on bridging.

Rates and amounts: Not published. Bridging, development finance and specialist mortgage pricing sits in rate cards issued to registered brokers through HTB’s PUMA intermediary portal. No minimum loan size is published.

Eligibility: No minimum trading history or turnover published. Each case is assessed individually and applications must be submitted through a registered mortgage or finance broker.

Pros: £35 million per-customer ceiling; 21-day bridging completion target with dual legal representation; no early repayment charges on bridging; full UK bank with FSCS protection on deposits; covers development finance as well as bridging and specialist mortgages.

Cons: Intermediary-only, with no direct applications; no published rates or criteria anywhere public; no published minimum loan size; not a day-to-day business bank.

Best for: Larger property requirements above Recognise’s caps, where you already have a broker relationship and a fixed date to hit.

Regulatory status: Hampshire Trust Bank Plc is a full UK bank, authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the PRA, firm reference number 204601. Customer deposits are protected by the Financial Services Compensation Scheme.

6. OakNorth Bank, Best for bespoke facilities above £1 million

OakNorth is the opposite trade to West One. Where West One goes below Recognise’s floor, OakNorth goes above it, with a £1 million minimum and no published ceiling beyond a description of tens of millions. It has provided over £15 billion in funding since 2015 and states it can fund within weeks rather than months, and in some cases within days. Crucially for anyone caught by Recognise’s 2-year rule, OakNorth publishes no fixed minimum trading history, assessing it case by case alongside turnover, profitability and EBITDA.

Rates and amounts: Not published. Pricing is individually assessed per deal based on trading history, turnover, profitability and EBITDA. Minimum £1 million with no published maximum.

Eligibility: No fixed minimum trading history or turnover published. Each application is individually underwritten rather than automatically scored, covering business loans, development finance and commercial mortgages.

Pros: Funds facilities from £1 million into the tens of millions; no rigid trading history or turnover thresholds; individually underwritten by a PRA-authorised bank; strong track record on acquisitions, real estate investment and fund finance.

Cons: The £1 million minimum excludes most SMEs; no published rates at all; no published eligibility thresholds, so you cannot self-assess; presence limited to London and Manchester; oriented to corporate-style facilities rather than general working capital.

Best for: Larger, established businesses whose deal is too bespoke or too big for a standardised secured product.

Regulatory status: OakNorth Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority, Financial Services Register number 629564.

7. Aldermore Bank, Best if you need working capital, not just property lending

Recognise offers nothing beyond property-secured bridging and commercial mortgages, so a business that needs to finance equipment or raise cash against its debtor book has to go elsewhere anyway. Aldermore covers asset finance, invoice finance, commercial mortgages and business loans from one bank, with facilities from £2,000 and same-day asset finance decisions up to £250,000.

Rates and amounts: 4.5% to 20% per annum depending on product, asset type and credit profile; £2,000 to £10 million. Representative APR 9.3%.

Eligibility: 12 months or more of trading for most products, half Recognise’s requirement, and £100,000 of turnover for most products with lower thresholds on some asset finance. Fair to good credit required.

Pros: Four product lines from one bank; lends from £2,000; 12-month trading minimum rather than 2 years; same-day asset finance decisions up to £250,000; full banking licence with FSCS deposit protection.

Cons: Rates are not the sharpest for prime borrowers; the 12-month trading minimum still excludes start-ups; invoice finance minimum facility sizes may exclude very small businesses; not a specialist adverse credit lender.

Best for: Trading businesses whose real need is working capital or equipment rather than a property facility, or who want both from the same bank.

Regulatory status: Aldermore Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 204503.

Comparison table

Recognise’s bridging rate of 0.79% per month applies to residential security; commercial security is quoted at 0.84% per month. Monthly bridging rates and annual mortgage rates are different measures and cannot be compared directly.

How to choose the right alternative

Choose West One Loans if your requirement is under £250,000, or if you need a credit decision inside 24 hours.

Choose Shawbrook Bank if you want to stay with a licensed bank but need up to £25 million or a lower entry rate.

Choose Allica Bank if your commercial mortgage is above Recognise’s £3 million cap, and you can demonstrate 150% debt service cover.

Choose Together if you were declined on the CCJ rule, the insolvency rule, or the 2-year trading rule.

Choose Hampshire Trust Bank if you need up to £35 million and a published completion target rather than an indicative terms target.

Choose OakNorth Bank if the facility is £1 million or more and the structure is bespoke enough that no standard product fits.

Choose Aldermore Bank if what you actually need is asset finance, invoice finance or working capital, none of which Recognise offers.

A closing point that catches people out. Recognise is a regulated bank, but its own FAQs describe its business bridging loans and commercial mortgages as unregulated lending products. That is normal for business-purpose property finance across this whole market, and it means the firm’s authorisation and your loan’s regulatory protection are two separate questions. Ask each lender directly whether the specific facility you are being offered is regulated, and check the firm itself on the FCA Register at register.fca.org.uk.