Brightstar launches ‘DIP in a Day’ event with Allica Bank
Brightstar Financial has announced a special ‘DIP in a Day’ event in partnership with Allica Bank on Monday 29 November.
The event will feature an onsite underwriter from Allica Bank who will be dedicated to assessing commercial and semi-commercial cases submitted that day. Allica Bank has committed to delivering a same-day Decision In Principle (DIP) to any qualifying enquiry that is submitted by midday.
Allica Bank specialises in lending on commercial property for investment purposes and trading businesses. It accepts most types of property including warehouses, industrial units, factories and offices, retail units, garages and food outlets. It is able to lend to a range of trading businesses including convenience stores, childrens’ day nurseries, hotels and leisure. Maximum LTVs are available up to 70% and rates are available from 3.50% over Bank Base Rate.
In order to secure a DIP brokers will need full name, date of birth and address details for applicants; property address, estimated value and type; details of tenant names and lease terms; product details, including repayment profile and how the arrangement fee is to be paid; affordability information such as turnover or rent; and details of other income sources.
Michelle Westley, head of marketing at Brightstar Financial, said: “Finding a solution for commercial and semi-commercial enquiries doesn’t need to be complicated if you work with the right partner. We’re so confident of this fact that we have partnered with Allica Bank to offer brokers the chance to secure a DIP in a day. If you have a commercial or semi-commercial case you want to place, get in touch with Brightstar on 1 December to find out just how easy it can be.”
Michael Mann, business development manager at Allica Bank, said: “At Allica Bank, we offer commercial and semi-commercial mortgages across a diverse range of properties and to a wide selection of businesses. We like to keep things straightforward, with clear criteria and simple requirements and we’re delighted to partner with Brightstar for this DIP in a Day event to demonstrate just how straightforward working with us can be.”