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.
Doug Hall, director at 3mc, 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.”
Eggleston 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.”
