Mortgage distributor 3mc has teamed up with Aldermore to offer more investment property funding options.

Details include:

• Rates from 4.8% over 3 month Libor (currently 0.55%)
• Loans from £250,000 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 (no corporate loans) for residential property only
• 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%

“There is growing demand for investment property funding and we’re delighted to have negotiated this highly competitive deal with Aldermore,” said 3mc’s director Doug Hall.

Rob Lankey, managing director of Aldermore Commercial Mortgages, said: “3mc has built a strong reputation as a leading specialist mortgage distributor and is ideally positioned to advise brokers about funding for residential investment property. We look forward to working with Doug and his team over the coming months.”