Close Menu
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing & Mental Health
  • Marketing
  • HR & Recruitment
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
X (Twitter) LinkedIn YouTube
Trending
  • How employers can help LGBTQIA+ employees thrive
  • Meeting Overload: A symptom of a bigger problem?
  • New Chief Revenue Officer joins CBS to drive strategic growth
  • The Death of the Number-Cruncher CFO: 60% Now Leading Strategy Beyond Finance
  • Why it’s time for law firms to embrace smart identity infrastructure
  • Continuity Planning Is Now the Norm for UK Businesses
  • The Resignation Ripple: How One Exit Can Shake an Entire SMB
  • Risk Assessments for Employees who are Deaf or have Hearing Loss
X (Twitter) LinkedIn YouTube
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing
  • Marketing
  • HR & Recruitment
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • Twitter
  • LinkedIn
  • YouTube
  • RSS
You are at:Home»Finance»Allica Bank raises maximum loan size from £2 million to £3 million
Allica bank

Allica Bank raises maximum loan size from £2 million to £3 million

0
Posted By sme-admin on February 17, 2021 Finance, News

Allica Bank – the bank committed to empowering established small and medium-sized businesses – has announced it is increasing the maximum loan size for its commercial mortgages from £2 million to £3 million. It is hoped the move will help Allica Bank’s broker panel serve even more of their clients.

The increase comes in response to the bank’s quarterly broker survey in January this year, which polled 131 of the bank’s broker panel on their experiences of using the bank.

The SME bank, which won the 2020 NACFB Commercial Mortgage Lender of the Year Award, also announced a host of enhancements to its fee structure. The changes are designed to reduce the upfront cost to the customer and make things more straightforward. These include:

  • Allica Bank’s commitment fee will change from 0.25% to a flat fee of £500, which is refunded at completion. It will need to be paid once a formal Loan Offer is made and before a valuation is instructed.
  • Arrangement fees have increased from 1.5% to 2% and can now be added in full to the loan. Introducer Commission will remain at 50% of the Arrangement Fee.
  • Allica Bank has a new Valuation Panel Manager who will collect the Valuation Fee directly from the Borrower.
  • Rather than a Borrower paying Allica’s Legal Fee up front, they will now rely on the provision of an undertaking for the Legal Fee, to be provided by the Borrower’s solicitor.

 

Nick Baker, Head of Intermediaries at Allica Bank, said “Our broker survey returned some fantastically positive results, which we’ll be sharing more widely soon. However, a recurring piece of feedback our brokers gave was that they’d like us to increase our maximum loan sizes and simplify our fee structure.

“I’m pleased that we were able to act quickly and introduce these adjustments to make doing business with Allica even easier for brokers and their clients. This is a great example of the power that broker feedback plays in how we grow and develop Allica Bank’s broker proposition to be as clear and consistent as possible.”

 

 

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Dementia Advocate Shares Tips For Supporting People With Dementia When Flying

Five ways to monetise your business EV chargers

Are you flying blind on your most important business decisions?

Comments are closed.

Follow SME Today on Linkedin and share all the topics you find interesting

The Newsletter

Join our mailing list for the best SME stories, handpicked and delivered direct to your inbox every two weeks!

Sign Up
Personal Pension offer
Events Calendar
    • Marketing
    September 9, 2025

    SEO 101 for SMBs: Reaching Customers with the Right Visuals

    August 29, 2025

    OneMetric forms strategic partnership with RevOps expert to drive UK growth

    • Finance
    September 3, 2025

    Five ways to monetise your business EV chargers

    September 1, 2025

    Are you flying blind on your most important business decisions?

    • People
    September 11, 2025

    New Chief Revenue Officer joins CBS to drive strategic growth

    August 14, 2025

    A Life Worth Saving – A Tribute to Dame Stephanie Shirley CH, 1933–2025

    • Health & Safety
    September 2, 2025

    1 in 3 employees anxious about lack of first aiders at work

    July 1, 2025

    Temperatures Soaring: Is Your Workplace Becoming Unsafe?

    • Events
    September 9, 2025

    Nominations for the 2026 Bold Woman Award by Veuve Clicquot open

    July 22, 2025

    South West Expo Delivers Outstanding Event at Swindon’s STEAM Museum

    • Community
    July 11, 2025

    Building community, one cause at a time

    June 23, 2025

    Celebrating One Year In Fairford Supporting The Community

    • Food & Drink
    August 22, 2025

    How to get stocked by major retailers as an SME

    July 18, 2025

    Warning to Small Businesses Over New Food Waste Regulations

    • Books
    September 3, 2025

    New book on conquering fear of public speaking

    August 7, 2025

    Learning to Leave a Legacy in Business

    About

    SME Today is published by the same team who deliver The Great British Expos’. We have been organising various corporate events for the last 10 years, with a strong track record of producing well managed and attended business events across the UK.

    Join Our Mailing List

    Receive the latest news and updates from SMEToday.
    Read our Latest Newsletter:


    Sign Up
    X (Twitter) YouTube LinkedIn
    Categories
    • Books
    • Community & Charity
    • Education and Training
    • Environment
    • Events
    • Features
    • Finance
    • Food and Drink
    • Health & Safety
    • HR & Recruitment
    • In Profile
    • Legal
    • Marketing
    • News
    • People
    • Property & Development
    • Sponsored Content
    • Technology
    • Transport & Tourism
    • Wellbeing & Mental Health
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Editorial Submission Guidelines
    • Privacy
    • Contact
    Copyright © 2025 SME Today.
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Editorial Submission Guidelines
    • Privacy
    • Contact

    Type above and press Enter to search. Press Esc to cancel.