Aldermore reports residential mortgage growth

Aldermore group posted their 3rd quarter results yesterday.

Aldermore Group has seen residential mortgages increase by 22 per cent to £3.1bn, compared with £2.6bn at the end of last year, putting it on track to deliver targeted 2015 net loan growth of circa £1.4bn.

On track to deliver targeted 2015 net loan growth of c£1.4bn

Organic loan origination of £1.9bn year-to-date; up 12% on prior year (Q3 2014 YTD: £1.7bn)

Net loans to customers up by 20% to £5.8bn (31 December 2014: £4.8bn)

Lending to SMEs up by 19% to £2.7bn (31 December 2014: £2.2bn)

Residential Mortgages up by 22% to £3.1bn (31 December 2014: £2.6bn)

Phillip Monks, CEO, commented: “It has been another excellent quarter for Aldermore as net lending continues to increase in line with our expectations. We’ve delivered net loan growth of around £1bn for the first nine months of the year with net loans totalling £5.8bn at the end of September. Growth across the board is strong, with loans to SMEs up by 19% to £2.7bn and lending to homeowners up by 22% to £3.1bn.

 “We refreshed our buy-to-let customer offering in July and I’m very pleased that, across both SME Commercial and Residential Mortgages, buy-to-let origination during the third quarter was around 19% higher than for the same period last year. As expected, we have not seen any impact from the recently announced changes to tax relief for some individual buy-to-let landlords.

 “Our award-winning online deposit franchise funds our support of UK SMEs and homeowners with year-to-date growth of 20% to £5.4bn in deposits matching the rate of lending growth. We continue to diversify our deposit base and have driven 28% growth in SME deposits this year.

 “Macro-economic conditions and the credit environment remain relatively benign in the UK, with base rates unchanged and continued growth in our target markets. We are on track to deliver net loan growth of around £1.4bn in 2015 while maintaining our margins, robust capital position and prudent risk appetite. We remain excited about the opportunity we face and confident of our ability to build on our proven track record of delivery for both customers and shareholders during the rest of this year and beyond.”

Full details of third quater report visit website: http://www.investors.aldermore.co.uk/?_ga=1.47908903.1601930538.1447323076

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

UK house prices growing by 2.5% according to Halifax

Nathan Emerson, CEO of Propertymark: “This slight dip in house prices will likely have been influenced as a direct consequence to the current state of the global economy. There will always be a need for people to move house regardless of international trading relations; however, many aspiring or current homeowners will no doubt be discouraged…
Read More
Breaking News

UK house prices dip slightly in May, but market remains steady

Average property price now £296,648 compared to £297,798 last month Annual rate of growth slows to +2.5% from +3.2% in April Overall house prices have remained stable so far this year Northern Ireland continues to lead annual price growth in the UK Amanda Bryden, Head of Mortgages, Halifax, said: “Average UK house prices fell by…
Read More
Breaking News

Estate Agent Content

Do you think that your estate agency / property business requires content? Is content marketing still a thing in 2025? Are you concerned if anyone will read your words? Is it worth investing in estate agent content? Businesses with blogs generate 67% more leads than those without. As competition for attention online increases it remains…
Read More
Breaking News

The cost of voids rises by £200 for England’s landlords

The latest analysis by Dwelly, one of the UK’s leading lettings acquisition and success planning experts, has found that landlords have been hit with a 26% increase in the cost of void periods in the past year, equivalent to lost income of almost £200. Dwelly analysed average void period data from March 2024 and March…
Read More
Breaking News

Breaking Property News 5/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X. Demand Rises for Housing and Infrastructure Projects Rising demand for housing, infrastructure and energy projects across Wales has driven continued growth at Lichfields’ Cardiff office, which this year marks 25 years in the capital. The team of 17 planning professionals is one of the largest…
Read More
Breaking News

Construction continues to enjoy a season in the sun

Underlying performance is on the rise during Q.2 2025 Today, Glenigan, one of the construction industry’s leading insight experts, releases the June 2025 edition of its Construction Index. The Index focuses on the three months to the end of May 2025, covering all underlying projects, with a total value of £100m or less (unless otherwise…
Read More