CML news & views

Commercial lender Aldermore is expanding into the residential mortgage market and has become a member of the CML.

Aldermore plans to offer prime products in both the residential and buy-to-let markets, and also wants to cater for prime borrowers who are unable to meet the criteria of lenders managing business volumes through tight credit scoring. It plans to distribute its products through directly authorised brokers and appointed representatives.

Aldermore is also continuing to offer commercial finance to small and medium-sized firms, as well as savings products.

Aldermore is being headed by Colin Snowdon, the former chief executive of Wave and the man who launched The Mortgage Business and Britannia Building Society’s Verso.

The CML now has 109 members and 78 associates.