Bridging lender Tuscan Capital has rebranded as part of its integration into Allica Bank.
Following the completion of Allica’s acquisition of Tuscan, Tuscan’s name, logo and website have all switched to Allica Bank branding – including Allica’s orange bowler hat – and its team have all officially become part of Allica.
The acquisition, which was first announced in August, represented Allica’s first entry into the bridging market, asit aims to become a break-out bridging lender by combining Tuscan’s specialist bridging expertise with its own extensive funding base and distribution network.
Colin Sanders, founder of Tuscan Capital, said:“The joint vision that I and the Allica team had to truly shake up the bridging market by building a bridging lender with extensive lending expertise, the ability to move fast, and provide certainty in funding is already bearing fruit,
“This rebrand is a major final step in the integration of Tuscan into Allica, but we’re still only at the beginning of what Allica’s bridging proposition will be. The new hires we’ve brought into the team and proposition enhancements are great proof of this. My former Tuscan colleagues and I are excited to be a part of it.”
Alongside the rebrand, Allica has announced a range of pricing and service improvements for its bridging proposition – an early signal of how it plans to use its resources to build its proposition.
This includes reducing its pricing for residential bridging, further improving its FastTrack application process, and doubling-down on its commercial bridging proposition.
To meet a growth in demand, Allica has expanded its newly-rebranded bridging business development, underwriting and client services teams across the UK.