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Aldermore to stop bridging in September

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Aldermore Bank will stop taking bridging loan applications from 1 September.

The lender says it is doing this to concentrate on its heartland mortgage areas.

An Aldermore statement says: “As of the 1st September we will no longer accept bridging applications but continue to focus on our core mortgage proposition in, residential mortgages, buy-to-let, commercial mortgages and property development.

“We will honour all existing applications up to and including 31st August 2016.”

The changes will apply across the country.

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