Mortgage distributor 3mc has completed a £1.65 million commercial mortgage transaction, which has been funded by Aldermore.
The deal was introduced to 3mc by Ian Moore, director of Prestatyn based IM Mortgage Consultancy Limited, for the refinancing of a residential buy-to-let portfolio based in North Wales on behalf of a limited company. The portfolio comprised multi-units on a single freehold title.
3mc director Doug Hall said: “This is an excellent example of the way in which a broker, distributor and lender have been able to work effectively together to create a solution for a professional landlord.
“Aldermore has a refreshing ‘can do’ attitude and we’re delighted to be offering brokers access to Aldermore funding for investment property, including access to products available exclusively via 3mc. As the market continues to pick-up, we anticipate growing demand for this type of finance facility.”
Moore said: “Placing larger deals of this type can be a real challenge for brokers and 3mc played an invaluable role in identifying Aldermore as the right home for this application. We worked closely with the client’s accountants and having them on-side was really important. The service from both 3mc and Aldermore has been first-class and I have no hesitation in recommending both companies to other brokers.”
Rob Lankey, managing director of commercial mortgages at Aldermore, added: “We pride ourselves on assessing applications like this on their merits and work very hard to find ways to get deals done. Commercial loan applications can be complicated, but with the right expertise and support from both brokers and distributors there are no reasons why these type of cases cannot successfully go through to completion.”