Aldermore - are they ok?

jmb1

I see theyve only been in biz since 2009..... i guess we'd be protected though if they did a 'northern rock'?

GMS

Protected against what? If you take a mortgage with them you have their money!

As long as you stick to the terms of the mortgage then you are not at risk in any way, whether Aldermore still trade or not.

If you lent them money and they went 'Northern Rock' then you could worry, but not the other way around.

antrobus

See here for some info:

http://www.thisismoney.co.uk/money/saving/article-1678425/Aldermore-The-new-bank-with-5-savings.html

Aldermore Bank plc is basically a start-up. They did lose money last year, but are now apparently at break even. More importantly perhaps, as at 31 December 2010 they had a capital adequacy ratio of 116.4%, which (quite possibly) makes them the safest bank in the country. Or at least the safest bank that isn't owned by the government.

handytips

Aldermore are very good, easy to deal with and they are often featured in various newspapers as best buys for savings, mortgages etc. have done a few cases with them and they were great to deal with.