Blog

Meet the team Culture

We’re shaping a culture of inclusivity at Allica Bank

As a small business, Allica Bank has a great opportunity to instil diversity and inclusion of all kinds into the very core of our working environment and growth journey. I’m incredibly proud to be championing this myself at Allica.

By Maciej Zalewski

3 minute read · 18 June 2020

Culture Technology

How we’re continuing to serve our customers during lockdown

5 minute read · 11 June 2020

Culture SMEs Brokers

We need to collaborate to give small businesses the power to succeed

3 minute read · 16 March 2020

Meet the team Culture Technology

Building an engineering team with respect, excellence and humility at the heart

4 minute read · 12 March 2020

Culture SMEs

The best way we can empower small businesses is by being straightforward

3 minute read · 10 March 2020

SMEs

Local expertise is vital if small business owners are going to get the service they deserve

There’s a worrying trend at present that is seeing small businesses lose access to specialised financial expertise. Banks are continuing to centralise and cut down...

By Charissa Chang

3 minute read · 6 March 2020

Culture SMEs

Creating trust with customers will be our biggest challenge, but the most important one

3 minute read · 4 March 2020

Culture SMEs Technology

We’re building a business bank from scratch

4 minute read · 2 March 2020

Culture

If we really want to understand our customers, we need a proactive feedback strategy

3 minute read · 5 February 2020

SMEs Savings

Small businesses are losing money by not opening high-interest savings accounts

3 minute read · 17 January 2020

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