Allica Bank doubles down on bridging amid record-breaking demand with enhanced refurbishment product and cashback incentive
Allica Bank, the challenger business bank, is introducing a series of enhancements across its bridging proposition as it doubles down on helping the brokers that support the UK’s established businesses.
The updates come as Allica continues to see strong demand across its bridging products and remains on track to deliver £250m in bridging originations this year following record demand over recent months.
From today, 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. This will make the process for brokers and the established business owners they support more transparent and easier to implement.
Alongside these changes, Allica is introducing a limited-time cashback offer across all bridging loans – putting more money back in business owners’ pockets. New applications submitted between 1 June and 30 September 2026, will see eligible customers receive 0.25% cashback on the loan balance once completed by 31 October 2026.
Further reinforcing its service level promise to brokers and human-led approach to banking, 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 – additions that expand regional broker support and deepen expertise within the credit team.
Steve Palfreeman, 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 £250m in bridging originations this year, which reflects the continuously strong appetite for straightforward and fast lending that puts people at the heart of it.”