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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.”



Nationwide halts new lending where income is in foreign currency

Nationwide has stopped lending to new borrowers who get paid in a foreign currency. The lender says it “may” consider income in a foreign currency for existing customers who are looking to move home and where no additional lending is required. There is no change to the treatment of term variations or changes to repayment […]


Cover story – Face lift: Welsh market on the up

Despite sharing the UK-wide problem of insufficient supply, the Welsh housing market is gradually becoming stronger and more sustainable, characterised by rising demand, increased lending, a fall in repossessions and planned improvements to legislation 


Mortgage Mole: Fool me once…

  Fool me once… The property and mortgage sectors were in good form last week as they looked to trick this wily ol’ Mole for April Fools’ Day – and it nearly worked, too.  Estate agency published a press release in which it claimed to be developing a fleet of robots (see picture, right) […]


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