Allica Bank acquisition drives change to Tuscan Capital’s product range & criteria

This acquisition has driven various changes to Tuscan Capital’s product range & criteria. The short-term property finance specialist believes this will allow it to deliver a more comprehensive range of support for brokers and their customers, faster than ever before. 

These changes will leverage Allica’s resources and commercial lending expertise to offer a highly competitive commercial bridging product, a particularly underserved segment of the market and an opportunity for real growth.

Highlights of Tuscan Capital's enhanced product offering include:

• Improved commercial pricing with LTV to 70% of vacant possession,
• Wider commercial appetite with loans up to £10mn,
• Increased refurbishment capacity to 75% LTV with loans up to £2mn,
• Fast-track for residential bridging loans, including remote valuation and title insurance,
• Development exit lending now available up to £10mn,
• Flexible approach to funding requests, with all products powered by Allica Bank.

Colin Sanders, CEO of Tuscan Capital, has said: 

“Since the news of our acquisition by Allica Bank, we’ve been inundated with interest and support from brokers. They're excited to hear what we have planned and what this will mean for our products and appetite – both within our core markets and in terms of expansion.

“The enhancements announced today are significant, but only the start. I'm looking forward to sharing what else we have coming in the next few months and encourage brokers to reach out to their Business Development Managers to find out more.”