Mark Stephens, deputy chief executive and group managing director of Aldermore’s mortgage division, says: “This is a fantastic result at a time when the general economy and the housing market have both been in the doldrums.
“Aldermore has been able to buck the trend and has consistently increased its lending volumes, whilst other lenders have been cutting back and tightening criteria.
“We’ve maintained our focus on providing mortgage finance to creditworthy borrowers frustrated by intransigent high street lenders. Our strategy of assessing cases based on their own merits, rather than relying on automated credit scoring, has paid dividends and the quality of our loan book is excellent.”
He says it has ambitious plans for both its residential, commercial property lending and development finance businesses and will be making further announcements about new products and services over the coming weeks.