Allica Bank has extended its commercial mortgage arrangement fee waiver to the end of 2026, while increasing fixed rates across its commercial lending range.
The waiver, introduced during the summer and originally due to expire on 30 September, will now apply to eligible new applications submitted up to 31 December 2026.
Allica is waiving its 1.5% arrangement fee on owner-occupied mortgages of £750,000 or more, alongside the 2% fee normally charged on commercial investment mortgages from £750,000 and specialist buy-to-let mortgages from £1.5 million.
FIXED RATES INCREASE
The extension comes as the bank adjusts pricing in response to movements in swap rates and the wider commercial mortgage market.
From 24 September, Allica is increasing rates by 0.45% across all of its fixed-rate commercial mortgages.
Nick Baker (pictured), chief commercial officer at Allica Bank, says: “Movements in swap rates mean we need to make a change to our fixed-rate commercial mortgage and specialist buy-to-let pricing.
“We know brokers are seeing the same pressures across the market, so we also want to be practical about where we can continue to support them and their clients.
“Extending our arrangement fee waivers until the end of the year is one way we can do that, helping brokers to keep getting deals over the line and established businesses investing and growing.
“We’re serious about backing Britain’s established businesses, and that means working closely with brokers and taking a considered approach to lending as market conditions change.”
