Credit rating for Aldermore bank?

mickael28

Hiya,

I had never heard about that bank but I've seen that they're offering some good rates in some products.

I was wondering if anyone knows how to know its credit rating? I've tried the typical sites (moodys, fitchratings, standardandpoors) but that bank doesn't even appear there, no idea why :S

Sceptic001

Aldermore is owned privately by a private equity firm called Anacap. Since Aldermore does not issue stock or bonds it does not need a credit rating.

As far as savers are concerned, all you need to worry about is that it is FSA-registered (it is) and so qualifies for the £85k FSCS if the worst should happen.

mickael28

Sceptic001 wrote: »

Since Aldermore does not issue stock or bonds it does not need a credit rating.

I didn't know about that, many thanks.

Yes, I read now that it's FSA-registered; so that should be fine as you said.

Cheers!

bowlhead99

Sceptic001 wrote: »

Aldermore is owned privately by a private equity firm called Anacap. Since Aldermore does not issue stock or bonds it does not need a credit rating.

And, presumably with the aim of growing their assets, profits and overall value in the medium/ longer term for their private owners, rather than hitting a particular level of profits every quarter to keep the stock market investors happy, they're offering rates and service at or near the top of the league tables - so they can grow their level of customers, total cash deposits, size of their book of mortgages etc.

Seems a good company to do business with if they're following a model that the other banks can't always handle, and you still get your compensation scheme guarantee for 85k per person. And you know the 85k isn't going to be shared across any other accounts you have, because they're completely independent from Lloyds/HBOS, RBS/Natwest, etc