Aldermore extends bridging and development to Scotland

The specialist lender already offered products for residential, buy-to-let and commercial mortgages in Scotland and has now expanded to offer bridging loans and property development and refurbishment finance.

Group managing director of mortgages at Aldermore, Charles Haresnape (pictured), said now was the right time to expand into this sector in Scotland as the housing market was showing signs of growth.

“Scotland is a key segment of the UK property market and one that is showing strong signs of growth with an estimated 465 000 new homes needed by 2035”, said Haresnape.

“Bridging and property development finance are both vital segments of the housing market and we are happy to help developers and investors by providing a selection of flexible finance options to get closer to this goal.

“Our new range of products will give brokers additional choice as well as personal service, which is based on skilled underwriting rather than automated credit scoring, will undoubtedly be a welcome development.”