Related topic: Allica Bank

The Bank has paid more than £100 million in instant access savings interest to business customers.

The change aims to help property developers make the most of new opportunities created by the government's Your First Home initiative.

The extension comes as higher swap rates increase pressure on commercial mortgage pricing.

The Bank has more than doubled the maximum loan size for an AVM from £750,000 to £2 million. 

Allica says the change could save business owners as much as £300,000.

Allica has also expanded its specialist bridging team with a new BDM and senior underwriter.

The Bank has introduced a new healthcare investment proposition and expanded its criteria for first-time commercial landlords and expats.

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.