The bank has cut all its owner-occupied and semi-commercial investment mortgage rates by 0.25%.

It has also announced a 0.1% cut to its specialist BTL offering, which was launched earlier this year with an aim to make £100m in offers by the end of 2025.

Allica revealed it will offer a 0.25% discount for any business that opens a business current account alongside a commercial owner-occupied mortgage.

Rounding off the enhancements, Allica has improved its affordability criteria, reducing the stress rate it uses to assess base rate-linked loans to 1%, and debt service cover (DSC) requirements for semi-commercial mortgages to 120%.

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Nick Baker, Allica Bank’s CCO (pictured above), said: “Market needs are changing fast and it’s important that Allica is changing with them.

“We keep in close contact with our brokers to understand what they and their clients need, and this range of changes to our proposition reflects what we’re hearing from them.

“By reducing our pricing and affordability requirements, we hope we can support even more businesses achieve their growth plans with the speed and human expertise Allica has become known for within our broker community.

“I’m pleased, too, to introduce this discount for business owners that also open a bank account with Allica, as we look to support established businesses in even more ways than just lending.”