3mc makes minimum loan cut on Aldermore property funding deal

Published on

aldermore

Mortgage distributor 3mc has cut the minimum loan amount from £250,000 to £100,000 on investment property funding it has negotiated with Aldermore Commercial Mortgages.

Key criteria include:

  • Rates from 4.8% over three-month Libor (currently 0.55%)
  • Loans from £100,000 to £500,000 up to 70% LTV
  • Periods of up to 10 years for interest only and 20 years for capital & interest loans
  • Available to private individuals and Limited companies
  • Lender completion fee of 1.75%
  • 3mc broker fee of 0.5%
  • Broker proc fee (including a share of the 3mc broker fee) of 0.75%

3mc director Doug Hall said: “We’ve had strong demand for this funding and a number of brokers have asked if the minimum loan amount could be reduced.

“I’m therefore pleased to announce that this exclusive funding package is now available for loans for £100,000 to £500,000.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...

£1 billion lost annually as 50,000 London social homes used fraudulently

A shocking new report reveals that around 50,000 social housing properties in London are...

Other news

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...