Charles Haresnape, Managing Director - Mortgages & Commercial Lending, Aldermore

FR: How do you think upcoming changes to regulation will affect the bridging market?

The changes in regulation will probably mean a tightening up of criteria and practices to ensure transparency, which is no bad thing. Even though Aldermore is not currently operating in the regulated bridging space. As we are a regulated funder already, I do not think that these changes will have any adverse effect on us.

FR: Bridging lending has almost doubled in 12 months – do you think this is sustainable growth and will we continue to see a rise in brokers recommending bridging to their clients?

Whether another doubling of the amount of lending is sustainable is difficult to assess, although I do believe that the bridging market will continue to grow,  with more people seeing it being a valid source of commercial finance to solve a short term financing problem. This, coupled with some well-priced products, mean that brokers will continue to recommend bridging to their clients as a viable option.

FR: What challenges do you feel are most affecting brokers in the current market?

One of the biggest challenges that they face is choosing the correct funder for their client to ensure that the client’s needs are met both in the short and medium term as there is no shortage of funders out in the market, which may mean that it is not necessarily the best headline rate which is the best deal for the client.

FR: 2014/15 is set to be a time of change for advisers and brokers – what has Aldermore done to support them or what does it plan to do?

We continue to support our brokers by being open and transparent about what our growth plans are and we engage and seek feedback from our key partners whenever we look at creating new products and processes. As a full lender we can offer not only the bridging element but also the long term mortgage. This gives up-front options to the broker and client.

FR: If you weren’t in the financial services industry, what would you be doing?

Playing centre forward for Manchester United.