Aldermore becomes AOBP Associate Lender
By Bridging Loan Directory -
Following the challenger bank’s entry into the short term finance market earlier this month, the decision to join the sector’s representative intermediary body was a clear one.
Aldermore Residential and Commercial Mortgages Managing Director Charles Haresnape says: “We are delighted to be joining the Association of Bridging Professionals and with our recent entry into the bridging market, it is essential that we work with organisations like the AOBP.
“We are excited about the potential that the bridging market holds, given that earlier this year it reached £2bn. We look forward to working closely with the AOBP and its members.”
Aldermore has come to market with an impressive bridging product range, including the unique Bridge-to-Term offering that will offer borrowers a seamless option to switch to longer term funding. Rates start from 0.75 per cent on residential and 1.3 per cent on commercial bridging loans.
It has also been confirmed that Aldermore’s bridging products are solely available through specialist distributor Finance 4 Business. Russell Martin, Managing Director of Finance 4 Business and AOBP Executive Committee member, is understandably pleased with the exclusive partnership that his firm has secured with Aldermore and its long-awaiting bridging offering.
Russell commented: “It is very exciting to have a trusted brand such as Aldermore enter the short-term finance sector. The initial product offering is very strong and covers most bases and the development of the Bridge to Term product across residential, semi-commercial and commercial is a unique proposition, particularly given the geographical spread of Aldermore’s lending. For an intermediary to be able to provide early stage comfort to a borrower that plans to retain the property is an excellent concept. Following the success of Aldermore in their other areas of financing, I am confident that their entry in this growing sector of finance will be extremely well received by the intermediary market.
“I am delighted that Aldermore have seen the value of joining the AOBP and equally pleased for our blue members to have access to such a well-known brand in this growing sector of finance.”