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Allica Bank has announced record rate reductions across its commercial mortgages product range with reductions by up to 1.20% on owner-occupied commercial mortgages and 0.90% on commercial investment mortgages with a maximum value of £10 million. This is the biggest reduction in rates in the history of the lender.
The bank also has an initiative that allows businesses to achieve a further discount of between 0.25% and 0.50%, depending on loan size, EPC rating or debt service cover. Commenting, Nick Baker, chief commercial officer said: “UK businesses have been through a period of sustained uncertainty and increasing costs, but many now see an opportunity to grow and need our support on their journey."
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