Related topic: Allica Bank

Allica is also extending maximum loan terms to up to 30 years for healthcare operators.

29% of brokers report rising asset finance applications, with a further 26% seeing no change, showing steady demand despite wider caution.

Allica Bank has announced pricing reductions across its commercial mortgage and bridging products, alongside changes to its wider property backed lending range.

New, flexible options include loan terms up to 30 years, five-year interest-only periods and higher LTVs for select sectors.

For the first time, Allica will offer below-market-value leverage up to 80% of the purchase price.

Allica can now lend against a broader range of assets.

This is the lowest rate Allica has offered in three years.

Allica will offer brokers commission if they or their clients open a bank account.

The bank has reduced specialist buy-to-let and commercial mortgage rates by up to 0.25%.

This marks the bank’s first major shake-up of its commercial bridging market since it entered the sector last year.