Aldermore is offering discounted valuation fees and increased procuration fees for brokers in bridging finance.

Brokers will now receive an improved procuration fee of 1.75%, up from 1%, and for a limited period customers will benefit from a discount of £500 off Aldermore’s bridging valuations.

The changes mean that for the average property value of £240,000 residential customers will pay £5 for their valuation fee (previously £505) and customers purchasing commercial property will pay £310 instead of £810.

Charles Haresnape (pictured), managing director of mortgages and commercial lending at Aldermore, said: “While many traditional mortgage providers continue to show a reluctance to provide shorter term facilities, bridging can be an invaluable resource for those looking to secure finance quickly.

“Whether customers are looking to raise funds or need to renovate or develop properties, this flexible form of finance is becoming increasingly popular as a solution.

“These latest changes make Aldermore an attractive provider for brokers and customers alike. These changes are testament to Aldermore’s commitment to the bridging market.”