NLA launches free sourcing service

The National Landlords Association has launched a service that allows all landlords to source competitive buy-to-let mortgages from the most popular lenders.

The free service, NLA Mortgages, is designed for property investors looking to expand their portfolios or remortgage current properties.

NLA Mortgages also gives access to products that may not be currently available in the market.

For every mortgage placed through NLA Mortgages, NLA members will receive a minimum 0.25% of the loan advance upon completion.

For example, a buy-to-let mortgage of £250,000 would earn £625.

Any NLA members wishing to remortgage five or more properties at the same time will receive a guaranteed 0.275% of the loan value. Therefore, a remortgage portfolio of £2m would attract a cashback of £5,500.

Landlords who are not members of the NLA but wish to take advantage of the cashback offer can join for as little as £88. NLA member landlords receive the full benefit of a comprehensive range of information, advice, support and services.

David Salusbury, chairman of NLA, says: “With around 80% of NLA members either expecting to expand their lettings portfolio or maintain current levels over the next few years, this is an ideal time to have a dedicated sourcing and quotation system where they can search for the buy-to-let mortgage products which suit their individual circumstances.

“With a specialist enquiry line and online case tracking, finding and securing a loan could not be easier. And, for NLA members, a 0.25% cash back which will help reduce the costs of getting a new loan advance.”