3mc completes £1.65m deal with Cambridge & Counties Bank

By Bridging Loan Directory -

 

3mcLeading mortgage distributor 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 7 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 & 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.”