The lending milestone marks the bank’s strongest performance since 2019 and includes an £85m facility, the largest single transaction in Aldermore‘s history.
Among the criteria changes credited for the bank’s lending achievement is an increase in the commercial investment lending loan to value (LTV) to 70% and the expansion of its maximum loan criteria from £3m to £100m.
A commercial director, head of commercial real estate, and six lending managers have been hired over the past year to strengthen the bank’s expertise in investment and development finance.
Azfar Rizvi (pictured), commercial director for corporate and commercial lending, said: “Reaching £500m in commercial real estate lending is a significant milestone, and one that reflects the investment we’ve made in evolving our proposition over the past year. We’ve listened closely to brokers and customers about what they need in a lending partner and responded with meaningful enhancements, including higher LTVs, larger loan sizes, support for overseas structures and funding ahead of stabilisation.”
