Allica Bank has announced the addition of national commercial law firm, Freeths LLP, to its legal panel.
The bank says the new addition will help to improve its lending efficiency as it aims to support UK SMEs with the funds they need to purchase or refinance commercial property and grow.
Freeths LLP is a top 45, £100m+ turnover, commercial law firm with 12 officers across the UK. The legal real estate team numbers around 150 staff.
Nicola Tunney, head of operations at Allica Bank, said: “The legal part of the lending process is one of the most complex and time-consuming, which is why it is so important to us at Allica that we make it as slick as possible. Partnering with one of the UK’s leading commercial law firms gives us significant additional capacity to manage the pipeline, keep brokers well informed and drive completion volumes.
“We are delighted to be working with a firm whose values and commercial pragmatism are aligned so closely with our own, and one that is committed to delivering a fast and effective service to our broker partners. This move, along with other recent enhancements to our operational processes, will ensure that brokers can remain confident of top-quality end-to-end service across the entire loan journey.”
Jon Smart, real estate partner at Freeths, added: “We are delighted to have been appointed by Allica. Our personalities and ethos are a great match. Real Estate Partner, Lucy Bradban, and I will lead our cross office team. We are relishing the prospect of helping the bank in its next phase of expansion.”