Recognise Bank has expanded its commercial term range with the launch of a five-year fixed rate option.

The new product is available for commercial investment and owner-occupied properties, with loans from £250,000 to £3 million up to 70% loan-to-value (LTV).

The five-year product has been introduced alongside Recognise Bank’s existing two-year fixed rate option.

Recognise Bank chief commercial officer Caroline Luxmore says: “Having returned to the commercial mortgage market only three months ago, we’ve listened to brokers and their SME clients and by introducing a five-year fixed rate option we are offering a range of products that can support cashflow management and create certainty.”

“The launch follows a record July for Recognise Bank, which has been our biggest completions month since the Bank was founded. Term and bridging commercial lending is important for our continued growth and we will work closely with brokers to deliver practical solutions for their clients.”