Aldemore mortgages

A brief history

Aldermore was the result of a merger in May 2009 between Ruffler Bank Plc and Base Commercial Mortgages Ltd.

Ruffler Bank was founded in 1969 by Roy Ruffler, the Chairman and owner of the bank until May 2009, when he sold his shareholding to AnaCap Financial Partners LLP (this was the first time that the FSA approved the sale of a British bank to a private equity firm).

Ruffler Bank built its business by marketing a range of saving schemes to consumers and providing business finance facilities to small and medium sized enterprises. The bank had no reliance on the inter-bank market for funding.

AnaCap recognised the synergies which existed between Ruffler Bank and Base Commercial Mortgages. Base was established by AnaCap in 2007 to provide specialist commercial mortgage finance to small and medium sized businesses throughout the UK and quickly established a solid reputation for providing competitive mortgage facilities, supported by high quality service.

As a combined business, Aldermore has both the expertise and financial backing to develop into a significant force within the UK savings and business finance markets.

In November 2009 Aldermore acquired Absolute Invoice Finance, a specialist factoring and invoice company with regional offices based throughout the UK. The integration of Absolute and Aldermore is enabling Aldermore to provide a broader range of specialist financial solutions to existing and prospective SME customers.

In May 2010 Aldermore launched a residential and buy to let lending proposition exclusively via the Intermediary mortgage market in England and Wales.

Aldermore has an experienced senior management team with extensive banking experience developed in the saving and business finance markets. The team is led by Phillip Monks who was CEO of Europe Arab Bank plc where he was responsible for merging and transforming the European banking branches and subsidiaries of Arab Bank plc into the largest Middle Eastern bank in Europe.

By UK banking standards Aldermore is unashamedly a small bank. Our objective is not to be the biggest, but to provide some of the best finance schemes for UK consumers and businesses.