NLA promotes mortgage brokerage

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by Gill Montia

The National Association of Landlords (NLA) is promoting its mortgage facility which offers a free-to-use online sourcing and quotation system to all landlords and property investors.

NLA Mortgages was launched in April of this year, in response to a shrinking buy-to-let lending market.

The brokerage says it makes daily checks across the mortgage market to find the best loans for UK landlords and users can sometimes access mortgage products that are not available in the general marketplace.

In addition landlords can receive 0.27% of a new loan or remortgage advance as cashback, or 0.275% on remortgages for five or more properties at the same time.

For example, a landlord taking out a buy-to-let mortgage of £250,000 would receive £625 upon completion of the transaction.

However, the cashback offer only applies to NLA members as it has been made possible by the association pledging to share the commission received for arranging a loan.

NLA chairman, David Salusbury, comments that with relatively few buy-to-let mortgages now available, it is very important to source products which actually fit landlords’ expected rental income.