Allica Bank grows care home commercial mortgage team

Allica Bank is growing its care home commercial mortgage banking team with the appointment of Brian Bovell as specialist relationship manager.

Bovell will lead the bank’s expansion into Scotland and the north of England’s care sectors for older people. He has more than 20 years’ banking experience, with knowledge of the healthcare and care home sectors.

‘This is a heavily regulated industry that faces unique challenges – it’s important that brokers and their clients can speak to someone at a bank that understands the everyday pressures faced by those businesses operating within it,’ he said.

‘The pandemic has compounded many of these issues and has shaken up a long under-invested sector. I’m delighted to join Allica and give care home operators in Scotland and the north of England access to the expertise they need to recover and grow.’

The appointment follows the bank’s launch of a specialist care home team at the end of last year, designed to support independent or small group operators as the market readjusts from the pandemic. Last month it announced it was doubling its maximum commercial mortgage customer exposure for care home customers to £10m, intended to enable more operators to strengthen and scale their businesses.

Nick Baker, chief commercial officer at Allica, added: ‘With an ageing population it is so important that we encourage growth and expansion in the industry, and don’t marginalise such a significant part of the sector.

‘We’re thrilled to be further expanding operations in Scotland and the north of England, and are confident we have an excellent team in place to support the sector as it moves out of the pandemic.’