Allica Bank
Challenger BankAllica Bank is a UK challenger bank specialising in commercial and semi-commercial mortgages for established SMEs, offering fast and flexible finance through a relationship-driven approach and intermediary partnerships.
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About Allica Bank
Allica Bank was founded in 2019 with the mission of becoming the UK's best bank for established businesses. The bank received its banking licence from the PRA in 2019 and has grown rapidly, focusing on providing lending and savings products to small and medium-sized enterprises (SMEs) across the UK.
Allica Bank specialises in commercial and semi-commercial mortgage lending, bridging finance for business purposes, and asset finance. The bank takes a relationship-driven approach, assigning dedicated relationship managers to business clients. Allica has built a strong intermediary channel and works closely with commercial mortgage brokers to serve business owners who may find high street banks too slow or inflexible.
The bank has raised significant funding and has grown its loan book rapidly since launch. Allica Bank is known for fast decision-making, flexible criteria, and a technology-enabled approach to lending. The bank also offers business savings accounts. Allica Bank is authorised and regulated by the FCA and PRA.
Lending Focus
Allica Bank offers mortgage products across 6 categories including Buy-to-Let, Commercial, Bridging and 3 more.
Key Features
- Specialist commercial and semi-commercial mortgage lending
- Bridging finance for business property transactions
- HMO and holiday let buy-to-let products
- Dedicated relationship managers for business borrowers
- Fast decision-making with flexible criteria for SMEs
Pros & Cons
Pros
- Specialist focus on established SMEs and business lending
- Fast decision-making compared to high street banks
- Relationship-driven approach with dedicated managers
- Broad commercial product range including bridging and BTL
Cons
- –No residential mortgage products for personal borrowers
- –Maximum LTV of 75% requires a substantial deposit or equity
- –Newer bank with less established track record than incumbents
Fees & Charges
- Arrangement Fee
- Typically 1–2% of the loan amount
- Valuation Fee
- Charged at cost depending on property value and type
- Early Repayment Charge
- 1–3% during the initial deal period
- Overpayment Allowance
- Varies by product; contact the bank for details
Mortgage Rates
Rate data coming soon. View rates on Allica Bank
Application Process
- Processing Time
- 2–6 weeks depending on complexity
- Online DIP
- No — via broker or branch
- Offer Valid For
- 3 months
Lending Criteria
- Maximum LTV
- 75%
Frequently Asked Questions
What types of businesses does Allica Bank lend to?
Does Allica Bank offer commercial mortgages?
Can I apply through a mortgage broker?
How fast are Allica Bank lending decisions?
How to Apply
Direct & broker access. Apply directly or via a broker for whole-of-market access. Find a broker
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Important: Your home may be repossessed if you do not keep up repayments on your mortgage. Information on this page is for general guidance only and does not constitute financial advice. Always verify lender details directly and seek independent advice before making financial decisions.