Aldermore has increased its bridging procuration fees from 1% to 1.75% and launched a £500 discount on valuations for a limited period.

On the average property valued at £240,000 residential customers will pay £5 for the valuation, down from £505.

Charles Haresnape, managing director of mortgages and commercial lending, 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.”