Aldermore

Aldermore hits £1bn in development lending



Aldermore has surpassed £1bn in property development loans.

The specialist bank said that it had reached this milestone figure following a surge in demand from SME developers and housebuilders looking for finance.

To meet the rise in appetite for property development loans, Aldermore has increased its headcount by a third, with the most recent appointments in Scotland and Leeds.

Last year, Aldermore increased its maximum loan size.

The specialist bank also completed its largest development finance deal, to date, earlier this month, providing a £22.9m facility to Queensberry Properties Ltd.

“The need to invest in building new homes to meet rising demand is a must and plays heavily in the bank’s strategy to further increase its support for UK housebuilders in 2019,” said John Carter, commercial director within the commercial real estate team at Aldermore (pictured above).

“It is crucial that companies seeking to increase the number of properties available are supported at every stage and that is why [we] have consistently maintained and expanded our development finance offering since 2012.”


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