Allica expands residential AVM bridging proposition to 75% LTV on loans up to £2m

Allica Bank has broadened the use of AVMs in its bridging finance proposition, increasing the maximum LTV from 70% to 75% and more than doubling the maximum loan size for an AVM from £750,000 to £2m. 

This enhancement opens the AVM route to larger residential bridging deals, removing the need for a physical valuation in eligible cases.

AVMs are available for both residential purchases and refinances that meet Allica’s criteria, with no asset manager or physical inspection required.

The move comes at a time of strong demand for Allica’s bridging proposition, with the bank on track to deliver £250m in bridging originations this year.

The change follows a series of enhancements introduced in June, including a 0.03% reduction on loans over £750,000 for selected products, an improved refurbishment finance offering and a limited-time cashback across all bridging loans.

Steve Palfreeman, head of sales for bridging finance at Allica Bank (pictured above), said: “Speed and certainty are critical in bridging, especially for borrowers who need to move quickly when opportunity arises.

“Waiting for a physical valuation can add time they simply don’t have, which is why we’ve carried out extensive research comparing our AVM with physical valuations to understand where we can safely remove that step on eligible cases — saving valuable time for brokers and their customers.

“We made this change in response to what brokers are telling us they need to support their clients: greater speed and certainty without unnecessary friction.”