Blog

Brokers

Brokercast: the secret to getting asset finance deals done quicker, according to our head of underwriting

Allica Bank's Senior Asset Finance Broker Manager Brandon Hall and Head of Underwriting Jonathan Crook explore to get deals done quicker.

By Allica Bank

3 minute read · 2 September 2021

Meet the team Brokers

Meet Arshad Miah, Business Development Manager for the Midlands and East Anglia at Allica Bank

4 minute read · 23 August 2021

Meet the team

Meet Rachel Eckersley-Fallon – Senior Manager, Asset Finance Operations

4 minute read · 27 July 2021

Brokers

Allica Bank’s latest asset finance broker survey results

5 minute read · 21 July 2021

Brokers

Allica commits to lend an additional £50 million at an exclusive reduced rate to SMEs looking for owner-occupied commercial mortgages.

1 minute read · 28 June 2021

Brokers

Allica Bank’s latest commercial mortgage Broker Survey results

Nick Baker reviews Allica Bank's latest commercial mortgage broker survey results from Q2 2021.

By Nick Baker

5 minute read · 14 June 2021

Meet the team Brokers

Meet Danny McMurdo, Business Development Manager, South West at Allica Bank

4 minute read · 9 June 2021

Brokers

Brokercast: How brokers and banks can work together to stamp out fraud

3 minute read · 27 May 2021

SMEs

Three ways almost any business can use property to boost their business

3 minute read · 11 May 2021

Meet the team

Meet Jennifer Read, Operational Risk Manager at Allica Bank

5 minute read · 10 May 2021

Criteria	Description
Loan size	£150,000 to £15 million
Repayment type	5-year interest only 5-year partially amortising
Arrangement fee	2.0%
Debt service cover	Commercial: 130% Semi-commercial: 120% Repayment cover calculated at pay rate for fixed rate mortgages and pay rate plus 2% for variable rates.
Early repayment charges	5 year fixed: 5%, 4%, 3%, 2%, 1% (years 1–5) Variable: 3% for the first 5 years

Criteria	Description
Loan size	£150,000 to £10 million
Repayment type	30 year capital & interest 5-year interest-only available at the start of the loan term for loans up to 75% LTV
Arrangement fee	1.5%
Debt service cover	130% Calculated on the rate not including the current account discount Repayment cover calculated at pay rate for fixed rate mortgages and pay rate plus 2% for variable rates
Early repayment charges	5 year fixed: 5%, 4%, 3%, 2%, 1% (years 1–5) Variable: 3% for the first 5 years
Owner-occupied hotels	Loans over 80% of VP value must be fully amortising from day one Personal guarantee to be given for any amount in excess of 70% of VP value

Criteria	Description
Loan size	£200,000 to £15 million
Repayment type	5-year interest only
Arrangement fee	2.0%
Interest cover	130% standard, 145% higher rate taxpayer Gross rent used for residential/ MUFB applications if; evidence of 3 months' loan repayments in cash via bank statements and one UBO/director with Experian Consumer score of 881+ plus a supporting personal guarantee. Otherwise we will use net rent assumption of gross rent minus 10%. HMO properties will always be assessed using gross rent minus 25%
Early repayment charges	5%, 4%, 3%, 2%, 1% (years 1–5)

Criteria	Description
Loan size	£500,000 to £15 million £5 million maximum loan for first time buyers
Repayment type	Capital and interest Experienced operators: 30 years First time operators: 20 years
Arrangement fee	1.5%
Debt service cover	130% adjusted EBITDA for children’s nurseries and experienced care operators 150% adjusted EBITDA for care first-time buyers Repayment cover calculated at pay rate for fixed rate mortgages and pay rate plus 2% for variable rates
Minimum size	Care homes: 20 bedrooms Specialist care: 4 bedrooms, if one or two properties, and flexible if there are three or more properties Children's nurseries: 40 places
Early repayment charges	5 year fixed: 5%, 4%, 3%, 2%, 1% (years 1–5) Variable: 3% for the first 5 years
Specialist care operators	Children’s learning disability care Adult learning disability residential care Adult supported living Minimum of three years as a specialist care home owner-operator required

Criteria	Description
Loan size	£150,000 to £10 million
Maximum loan to value	75% for residential and semi-commercial properties, 70% for commercial
Term	Up to 24 months
Fees	Arrangement fee of 2%, deducted from advance
Borrowers	UK registered limited companies, LLPs, partnerships and sole traders
Security	First legal charge over freehold or long leasehold title(s)
Insurance	Title insurance and search indemnity applied where possible
Valuations	AVMs and desktop valuations available up to 70%
Interest	Retained or serviced

Brokercast: the secret to getting asset finance deals done quicker, according to our head of underwriting

Meet Arshad Miah, Business Development Manager for the Midlands and East Anglia at Allica Bank

Meet Rachel Eckersley-Fallon – Senior Manager, Asset Finance Operations

Allica Bank’s latest asset finance broker survey results

Allica commits to lend an additional £50 million at an exclusive reduced rate to SMEs looking for owner-occupied commercial mortgages.

Allica Bank’s latest commercial mortgage Broker Survey results

Meet Danny McMurdo, Business Development Manager, South West at Allica Bank

Brokercast: How brokers and banks can work together to stamp out fraud

Three ways almost any business can use property to boost their business

Meet Jennifer Read, Operational Risk Manager at Allica Bank

Explore award-winning business banking with Allica Bank