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Aldermore completions hit £240m in first year

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  • 24/05/2011
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Aldermore completions hit £240m in first year
Aldermore has revealed it has completed £240m of mortgage business during its first year in the residential mortgage market.

It said most of its business was introduced by the 8,000 mortgage brokers that have registered with the lender.

In addition, Aldermore revealed that it plans to extend its product portfolio further this year.

A spokesman for Aldermore said: “We recently launched a large loan proposition for borrowers seeking finance up to £1m and we have a number of new initiatives in the pipeline, which will be targeted at creditworthy borrowers whose needs are not being addressed by the mainstream banks.”

Charles Haresnape, managing director of residential mortgages at Aldermore, said: “We set out exactly a year ago to help brokers place creditworthy mortgage applications being rejected by high street lenders.

“The response from intermediaries and their clients to our proposition has been fantastic and the growth of the business has exceeded our expectations.”

He added: “The key ingredient to our success has been our professional and knowledgeable staff, who are eager to talk to brokers and willing to assess applications based on their own merits, rather than relying on automated credit scoring systems.”

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