3mc has added Aldermore to its bridging panel and will offer brokers either a packaged or ‘club’ bridging service.
Aldermore’s bridging rates start from 0.64% per month and are available up to 75% LTV for both residential and commercial property.
It will lend up to £3m for residential and £5m for commercial applications, with flexible terms from one to 18 months.
In addition, there are no exit fees and only one month’s minimum interest period, plus the ability to remortgage onto an Aldermore term deal including 3mc’s exclusive product.
Brokers will be paid a procuration fee of 1% on all completed deals.
3mc director Doug Hall said: “3mc is delighted to be one of only a few distributors to have access to Aldermore’s new bridging facilities and this development further enhances our existing specialist bridging, commercial lending and buy-to-let panel.
“Bridging is a fast growing market which represents a great opportunity for brokers to boost their income. We have an Aldermore underwriter on site and can therefore guarantee brokers will receive a fast and efficient service.”
Charles Haresnape, managing director of mortgages and commercial lending at Aldermore, said: “As a new bridging lender entering the market, we recognize that service is key. We have therefore been very careful in choosing our distribution partners and we’re delighted to have the opportunity to offer bridging facilities via 3mc.
“3mc has a solid reputation for its expertise and providing brokers with a high quality service and we’re looking forward to working on bridging cases with Doug and his team over the coming months.”
