Allica Bank has introduced a series of enhancements across its bridging proposition.
Pricing on bridging loans over £750,000 has been reduced by 0.03% across residential, semi-commercial and commercial bridging products. This builds on the removal of exit fees for refurbishment finance, alongside a pricing reduction, with rates now starting from 0.77%.
The bank is also expanding the use of its asset manager for inspections and drawdowns to improve consistency, speed, and on-site understanding throughout refurbishment projects.
Alongside these changes, Allica is introducing a limited-time cashback offer across all bridging loans. New applications submitted between June 1st and September 30th 2026, will see eligible customers receive 0.25% cashback on the loan balance once completed by October 31st 2026.
Allica has also expanded its specialist bridging team, with Emma Jones joining as business development manager for the South West and Wales and Rio Norris as senior underwriter.
Steve Palfreeman (pictured), head of bridging sales at Allica Bank, said: “Other lenders may be slowing down when it comes to bridging, but we’re speeding up - quite simply because it’s what brokers and established business owners want. Allica was founded to support these businesses who are responsible for over a third of employment in the UK, and they need a lender who will support them and the brokers they work with consistently, not just when it suits.
“Whether it is improving pricing, simplifying processes or introducing something practical like cashback, our focus is always on helping brokers get the deals they need for their customers as easily and quickly as possible.
“The need for flexible bridging solutions is only increasing, and we’re excited to not only welcome two highly skilled colleagues to our team but also remain on track for £250 million in bridging originations this year, which reflects the continuously strong appetite for straightforward and fast lending that puts people at the heart of it.”
