Insights and Opinions Doug Hall 12/04/2021

NRLA mortgages partner with lender Landbay to launch product exclusively for members

NRLA Mortgages have partnered with BTL lender Landbay to create the first ever exclusive mortgage product for NRLA Members.

If you are looking for buy-to-let finance with fixed payments for the next 5 years, this exclusive product has a 0.20% reduction in the pay rate when compared to the lenders core range. This product is available for the remortgage and purchase of rental property including lending to SPV Limited Companies (Special Purpose Vehicle) up to 75% LTV.

Now may be the right time to enquire if you are looking to incorporate personally owned properties into a limited company structure, expand your portfolio or raise funds for further property investment.

Mortgage features include:

• Available for the remortgage and purchase of rental property including lending to SPV Limited Companies (Special Purpose Vehicle)

• 3.39% fixed for 5 years (4.82% APRC) reverts to lenders variable rate currently 5.00% + BBR (Bank Base Rate)

• 5% early repayment charge of loan to be paid until end of year 2, 3% early repayment charge of loan to be paid until end of year 3, 2% early repayment charge of loan to be paid until end of year 5.

• Free standard valuation

• 1.75% lender arrangement fee

• £150 lender application fee

• Available for new build flats and houses

• Available for flats over 5 stories high

• Rental stress carried out at the pay rate of the product (ideal for lower yielding properties)

• £295 broker fee for NRLA members (normally £495)

Interested? Contact NRLA Mortgages today:

T: 0161 341 0581

E: nrla@3-mc.com

Reasons to use NRLA Mortgages:

• Over £500 million in mortgage applications have been processed for NRLA members

• Reduced broker fee for NRLA members - £295 for the first application and then £195 for all subsequent applications

• Access exclusive buy-to-let and residential products available to NRLA members

If you are interested in the above or wish to receive advice about a mortgage, then please contact us and we will direct you to 3mc who are specialists within this area. 3mc will support you throughout all the steps of the process and can even help you to find mortgages for unusual property and tenancy types, including HMO properties with tenants in receipt of housing benefit. All for a fixed broker fee of no more than £295 for NRLA members.

Please note lenders have different minimum criteria requirements and not all landlords and property types will qualify for this specific product. For further information contact NRLA Mortgages.

This is an advertisement only and in no way should be viewed as a personal recommendation or advice. Before a recommendation of the suitability of the product can be given, we will direct you to 3mc (UK) Limited who can provide independent mortgage advice. As part of this they will ask questions so that they can fully understand your circumstances before giving advice.

NRLA Mortgages is a trading name of LPTE Limited which is an Introducer Appointed Representative of 3mc (UK) Limited who is Authorised and Regulated by the Financial Conduct Authority and is entered on the FS Register under reference 302992.

Please note: 3mc can advise/arrange Business Buy to Let (BBTL) and Consumer Buy to Lets (CBTL). Of the two, only Consumer Buy to Lets are regulated by the FCA.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

ANY PROPERTY USED AS SECURITY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

All calls are recorded for training and monitoring purposes.

Doug Hall

Doug Hall Director 3mc

Doug Hall is a director of 3mc; a specialist mortgage provider within the buy-to-let sector. 3mc have been established for over 21 years working with lenders, mortgage intermediaries and the Residential Landlords Association (RLA) providing all types of buy-to-let mortgage solutions.

See all articles by Doug Hall