Less than six months since going live with 40 lenders upon launch in November, Propp.io – the UK’s first specialist mortgage comparison site is showing no signs of slowing down, having already added 13 lenders to its fintech platform. The most recent of which – Allica Bank.
Propp specialises in bridging finance and commercial mortgages and leverages technology to simplify the process for both lenders and borrowers, while driving competition among lenders and increasing the choice available to borrowers.
Dedicated to empowering small and medium business to succeed, Allica Bank combines powerful technology with local relationships to deliver expert banking for business Britain. No stranger to a host of accolades, they recently won Commercial Mortgage Lender of the Year and Business Relationship Manager Team of the Year at the 2020 NACFB Awards.
Michael Mann, Business Relationship Manager at Allica Bank said, “At such a critical time for the UK economy, it’s vital that established small and medium-sized businesses (SMEs) have the finance they need to succeed.”
“That’s why we’re really pleased to be partnering with Propp, whose transparent and collaborative approach to commercial finance aligns closely with our own. By working together, brokers and banks can help even more SMEs thrive at a time when they need our expertise and support most.”
The real value you get from using Propp comes from their deal optimiser service. They encourage lenders to compete for your business by negotiating rates and returning a bespoke quote, often with a discounted rate within 24 hours, providing a saving on average of over £9,000 per year.
Paul Elliott, Managing Director at Propp said of Allica Bank, “They have an excellent standing in the commercial finance space and their ambitious plans to support SMEs caught our eye initially. Our relationship with them evolved organically, having worked with them on a few mortgage cases prior to them formally joining the panel. Their tech-supported approach to commercial finance closely mirrors our own, and so it was a natural partnership.”
“Often you find that incumbents within the market are fearful of disruption, but we’re finding that lenders approach us with enthusiasm – excited by the ambitions we have to increase transparency throughout the mortgage process and ultimately drive competition in the market.”
“What we’re doing opens the door for challenger banks to take a slice of the pie that was ordinarily reserved for the big players. The overall reaction to us has been overwhelmingly positive, which just reinforces the confidence we have in what we’re trying to achieve, and Allica Bank are the latest lender to lend us their support.”