Allica Bank
Lender Documents
Proc Fee
| Product | Gross Fee paid by lender | Net fee paid to regulated broker | Net Fee paid to non-regulated & client referral service |
|---|---|---|---|
| Commercial | 1.50% | 0.75% | 0.375% |
Allica Bank have made some exciting changes to their commercial proposition.
Recently named by The Times newspaper as one of the UK’s Top 20 financial technology (fintech) companies, Allica is a new bank that exists to empower established small and medium sized enterprises (SMEs) to succeed, through our unique combination of modern technology, local relationships and tailored expertise.
Their aim is simple, to help brokers support as many of their clients as possible. These changes will enable more loans to more clients.
Their aim is simple, to help brokers support as many of their clients as possible. These changes will enable more loans to more clients.
Product Snapshot
Owner Occupied
- Repayment Type
Capital & Interest 5 to 25 years
Up to 2 year Capital Repayment Holiday (CRH) available - Typical Margin Range
4.55% – 5.85% subject to status
Loans > £1.5m 25bps reduction - Debt Service Cover
130% (using Adjusted EBITDA)
If CRH taken DSCR must cover the remaining amortising loan - Super Prime Borrower
Margin of 3.5% plus base rate for loans which demonstrate 2 x Debt Service Cover at a maximum of 60% LTV - LTV
Varies per property type – maximum 80% LTV
Product Snapshot
Semi & Commercial Investment
- Repayment Type
Capital & Interest (5 to 25 years) or Interest Only (5 to 10 years) - Typical Margin Range
4.50% – 5.75% subject to status & LTV. Loans > £1.5m 25bps reduction - Debt Service Cover
135% (using Gross Rent)
Interest-only loans must evidence affordability on a 25 year repayment profile - LTV
Varies per property type – maximum 80% LTV
Loan to value limits
|
|
Standard investment
& Owner-occupied |
Owner occupied
with 2 x DSC |
|---|---|---|
|
Standard Property Type
|
VP
|
VP
|
|
Factories
|
75%
|
80%
|
|
Food Outlets - Takeaway
|
70%
|
70%
|
|
Garages / Vehicle Showrooms
|
75%
|
75%
|
|
Industrial Units
|
75%
|
80%
|
|
Mixed Use / Multi-Let (exc Residential and Retail)
|
75%
|
80%
|
|
Offices
|
75%
|
80%
|
|
Retail Units (Lock Up)
|
75%
|
80%
|
|
Retail Units with Commercial Uppers
|
75%
|
80%
|
|
Retail Units with Residential Uppers
|
75%
|
80%
|
|
Student Accommodation
|
60%
|
80%
|
|
Warehouses
|
75%
|
80%
|
|
|
Investment
|
Owner-occupied
|
Owner-occupied
|
|---|---|---|---|
|
Business Property Type
|
VP
|
VP
|
MV1
|
|
Children's Day Nurseries
|
75%
|
80%
|
70%
|
|
Convenience stores
|
75%
|
80%
|
70%
|
|
Professional Practices
|
75%
|
80%
|
70%
|
|
Food Outlets - Restaurant
|
70%
|
70%
|
65%
|
|
Guest Houses/B&Bs
|
70%
|
70%
|
65%
|
|
Hotels
|
70%
|
70%
|
65%
|
|
Leisure
|
70%
|
70%
|
60%
|
|
Public Houses
|
70%
|
70%
|
65%
|
All loan to values above are maximums and are subject to credit view on quality of the asset and other factors of the application.
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