Aldermore increases residential lending by 12%

Aldermore increased its residential mortgage lending 12 per cent year-on-year in the first half of 2015.

The FTSE 250 lender’s interim results, published today, show it lent £536m in the first six months of 2015, up from £480m in the same period of 2014.

Its book has grown from £2.6bn to £2.9bn in the six months to the end of June.

Aldermore has reported a pre-tax profit of £44m in the first half of the year, up 109 per cent over the same period in 2014.

Chief executive Phillip Monks says: “We’re excited by the significant ongoing growth opportunity presented by SMEs and homeowners, who we believe continue to be underserved by the wider market. Our track record and the great customer feedback we receive demonstrate that we’re exceptionally well placed to continue to support these customers and grow the business.”