Lending hits £2bn for Aldermore

ALDERMORE Bank has revealed that it has lent more than £2bn since first opening its doors for business in 2009.

The lending has been made up of a combination of commercial mortgages, residential mortgages, asset finance and invoice finance.

The £2bn figure includes almost £1bn of residential mortgage lending, which Aldermore said catered for people to buy a home who may have been turned away by high street lenders’ ‘tick-box’ approach to mortgages.

Aldermore said it is the fifth largest net lender in the Bank of England’s Funding for Lending Scheme.

Phillip Monks, chief executive of Aldermore, said: “Since the financial crisis the big banks have been shrinking their loan books. Increasingly SMEs have found themselves refused credit despite being quality businesses and so they are coming to us because we will take a balanced view of their business and support their growth aspirations. 

“Furthermore,with an expert team of client managers,in every major economic connorbation in the UK, we understand the issues facing the SMEs on a daily basis.

“Equally, when someone comes to us for a mortgage we treat them as an individual, not a computer profile, providing a tailored service to support home ownership.”

Aldermore said it had more than 12,000 SME customers and had increased its client base by 52% in the past year.

Alongside growing its loan book, Aldermore has also attracted more than £2bn of retail and business savings and now has over 83,000 retail accounts, it said.