3mc reduces minimum loan amount on property funding

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

Related topics:  Specialist Lending
Amy Loddington
15th July 2013
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Key criteria include:

- Rates from just 4.8% over 3 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.”
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