Allica Bank enhances development exit bridging product in Budget response (29 October 2026)

Created Oct 29, 2026 • AI-generated summary

On 29 October 2026, Allica Bank announced enhancements to its development exit bridging offering for property developers, responding to the clarification of the government's Your First Home scheme in the Autumn Budget of 28 October 2026. Allica will now consider development exit finance for residential schemes over £2.5 million comprising more than one unit, priced at 0.65%, with a maximum LTV of 75%, a maximum 24-month term and no exit fees, considered case-by-case for developments delivering homes intended to meet first-time buyer criteria. Quote from Steve Palfreeman, head of sales – bridging finance. Membership limited to coverage of this specific Allica Bank development exit product enhancement; other Allica announcements are distinct stories.