Recognise Bank has provided a £231,000 commercial bridging loan for the acquisition of a vacant commercial property in Bristol, arranged through specialist finance broker Word On The Street. The property had been owned by a family member and used as trading premises before becoming vacant. Loan structure and termsThe twelve-month bridging loan was agreed at 70% loan-to-value based on market value, representing 77% of the purchase price. If planning permission is refused, the property will be let and refinanced onto a commercial term mortgage. Title complicationsThe property was subject to restrictive covenants on the title, which were identified during the initial assessment.