Aldermore launches bridging range in Scotland

The product range will provide property finance from development to refurbishment, serving owner occupiers and investors for both residential and commercial customers.

Aldermore currently offers products for residential and buy-to-let properties in Scotland.

Charles Haresnape, Group Managing Director, Mortgages, said:

“We’re delighted to offer bridging and property development in Scotland at a time when the housing market north of the border is starting to show signs of renewed confidence.

“Scotland is typically an underserved segment of the market. Some of the large lenders do not support this market or invest time and effort to maximise the opportunities which leaves Scottish brokers and consumers with limited options. Feedback from brokers has indicated that they can find it difficult to fully serve their customers due to a lack of choice.

“Bridging and property development finance are both vital segments of the housing market, with an estimated 465,000 new homes needed in Scotland by 2035. We are happy to help developers and homeowners 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.”