3mc has recently completed a £1.65 million commercial mortgage transaction funded by Cambridge & Counties Bank.
The deal was introduced to 3mc by Rob Eggleston of Colchester based DesRes Mortgages, for the refinancing on one title of seven houses located in South East London, on behalf of a limited company.
The company wanted to repay an existing development loan and also raise capital at the same time.
3mc Director Doug Hall said: “This type of more complex deal, which may have seemed impossible a couple of years ago, is now perfectly possible and we’re delighted to have been able to help Rob Eggleston ensure this case had a smooth passage through to completion.”
Rob Eggleston of DesRes Mortgages said: “This is a good example of a deal where everyone: lender, broker, packager, lawyer and valuer all worked together as a team to ensure a successful outcome. Brokers shouldn’t shy-away from larger and more complex commercial applications, because firms such as 3mc are on-hand to provide expert help.”
Brian Cartwright, director of sales and distribution at Cambridge & Counties Bank, said: “3mc has done a great job co-ordinating this deal and ensuring all the information we needed was provided in a timely fashion. It’s been a positive experience for everyone involved and I hope we have the opportunity to work with both 3mc and DesRes Mortgages again in the near future.”
