Aldermore increases bridging proc fees by 75bps

Aldermore has increased procuration fees for bridging cases by 75 basis points to 1.75 per cent.

Further, the lender has slashed valuation fees by £500 for bridging customers until 1 May. Aldermore says customers will pay just £5 for a valuation on a residential property worth £240,000 and £310 for commercial premises of the same value.

Aldermore managing director of mortgages and commercial lending Charles Haresnape says: “While many traditional mortgage providers continue to show a reluctance to provide shorter term facilities, bridging can be an invaluable resource for those looking to secure finance quickly. Whether customers are looking to raise funds or need to renovate or develop properties, this flexible form of finance is becoming increasingly popular as a solution.  

“These latest changes make Aldermore an attractive provider for brokers and customers alike. These changes are testament to Aldermore’s commitment to the bridging market.”