NRLA Mortgages
The NRLA has teamed up with 3mc (UK) Limited offering value for money when it comes to all of your mortgage requirements. Their mortgage service provides a wide range of mortgages including exclusive mortgage deals not available direct from the lender. In addition, and to give you an idea of what rates are available we have an industry recognised sourcing tool below which provides real time information.
3mc's mortgage advisers have access to a vast portfolio of lenders with products for BTL mortgages, Residential mortgages, HMO's, Multi units on one title, Limited company, semi commercial and commercial properties.
Member benefits:
- Just £295 Broker Fee on our Mortgages
Any mortgage product purchased via the NRLA comes with a £200 discounted broker fee of £295 for NRLA members. The fee is £495 for non-members. If you can find a better mortgage deal, please let us know and 3mc will try their utmost to beat it. - £195 reduced broker fee for existing NRLA/3mc customers
For all your subsequent applications your broker fee is reduced by £200 when compared to their standard existing non-member broker fee of £395. - Specialist advice
3mc offers specialist mortgage advice and looks at each enquiry on its merits, therefore offering the most appropriate mortgage advice for your needs. - Exclusive market rates and criteria
3mc are able to offer access to products and criteria not available direct from the lender. - Offer Check
3mc provides a mortgage offer check, ensuring that you have the most competitive product prior to formal completion of your mortgage. - Get the support you need
3mc can help you on every step of the way, members will be allocated a dedicated mortgage adviser and case manager from enquiry through to completion of your mortgage. - Borrowing options
3mc can assist in a multitude of borrowing options, including residential, buy to let, holiday let, limited company, semi-commercial and commercial mortgages, together with short-term finance. - Buy to Let Mortgages for unusual property types and tenants
3mc are able to source funding for tenants and property types such as: Blocks of flats, housing benefit, students, company lets, multi lets, housing ssociation, HMO and bedsits. - Portfolio appraisals
3mc are able to provide landlords with property portfolios, a free finance appraisal.
Industry recognised sourcing tool
The link below is from an independent industry recognised sourcing company. The sourcing tool/table is streamed live and is commonly used by Mortgage Brokers to search the market. Please note: this is made available to you for your information only. Should you be interested in any of the products listed please contact us and we will refer you to 3mc (UK) Limited.
Buy-to-let
Are you looking to:
- Remortgage an existing BTL property to obtain a lower rate of interest.
- Remortgage an existing BTL property to raise additional funds.
- Purchase a BTL property as your first investment.
- Purchase a BTL property to add to your current property portfolio.
There are currently in the region of 50 different Buy to Let lenders in the UK with new lenders entering the market on an on-going basis*. Products are competitive up to 75% Loan to Value (LTV) with the most attractive products being available up to 60% Loan to Value for both remortgages and purchases.
* As at 12/02/2024.
Residential
Are you looking to:
- Remortgage your existing residential mortgage.
- Purchase your first home as a First Time Buyer.
- Move home and require a mortgage for your new property purchase.
Products are available up to 100%* Loan to Value with the most attractive products being available up to 60% Loan to Value for both remortgages and purchases.
* As at 12/02/2024. For purchase only.
Portfolio Lending
Are you looking to:
- Expand your current property portfolio.
- Remortgage one or more of your Buy to Let properties.
- Obtain advice on how to structure your finance within your property portfolio.
A number of lenders will consider lending to portfolio landlords. This can be as an individual transaction per property or against your entire portfolio with one loan account.
Limited Company Buy to Let Mortgages
Are you looking to:
- Use a trading limited company or SPV (Special Purpose Vehicle) limited company to purchase/remortgage a property.
- Purchase or remortgage a portfolio of properties within a limited company.
- Refinance a completed development within a limited company.
- Borrow up to 85%* of the value of the property.
A number of lenders have entered into the limited company market. All lenders accept an SPV (Special Purpose Vehicle) limited company set up for the sole purchase of property related transactions. Some lenders accept trading limited companies that perform other functions as well as property related. Most lenders require a PG (personal guarantee) to accompany the transaction.
* As at 12/02/2024.
Short Term Lending
Are you looking to:
- Remortgage a short-term lending deal prior to 6 months ownership.
- Purchase a property with short term lending.
- Purchase a property in need of refurbishment.
- Purchase a property in under 4 weeks from application to completion.
A number of lenders have entered into the bridging market. The products tend to be used for speedy transactions and for security that requires an element of work before the unit is income generating.
Lenders in this market will also consider lending against the current open market value even if the purchase price is lower.
House in Multiple Occupation (HMO)
Are you looking to:
- Purchase a HMO property.
- Remortgage an existing HMO property.
- Convert a property into a HMO.
- Borrow up to 75% of the value of the property.
Lenders in this market could limit the number of bedrooms, number of kitchens and in some circumstances the number of floors. Most lenders have a minimum valuation figure and some lenders do not accept DWP tenants. A number of lenders have entered into the HMO market. Each lender tends to have a different approach in respect what is and what is not an acceptable HMO client and property. Some lenders base on the investment value, some lenders base on the bricks and mortar value.
Multi units on one title
Are you looking to:
- Purchase a multi-unit property on one title.
- Remortgage a multi-unit property on one title.
- Convert a property into a multi-unit property on one title.
- Borrow up to 75% LTV of the value of the property on an interest only basis.
A number of lenders have entered into the multi-unit on one title market. Each lender has a different approach from the number of self-contained units accepted within one title to how the unit is valued for lending purchases. Some lenders base on the investment value, some lenders base on the aggregate value.
Semi and Commercial Investments
Are you looking to:
- Purchase a semi commercial or commercial investment property.
- Remortgage an existing semi commercial or commercial investment property.
- Access lenders who consider local covenants.
- Access lenders who consider interest only for the term.
A number of challenger banks have entered into the commercial funding market with several of the lenders accepting interest only. The strength of the tenancy covenant in place is key to most lenders however there are a number of the challenger banks that accept local covenants and a limited term remaining on the lease.
NRLA Mortgages Resources
Applying for a buy to let mortgage or remortgaging your rental property is a big decision and so you should make sure that you've got all the information you need before you take action.
Whether you're looking to buy your first buy to let property or remortgage, our documents will help us to better understand your own requirements. We can then put you through to 3mc who specialise in supporting NRLA members.
NRLA Portfolio Summary
NRLA Portfolio Summary
NRLA Mortgages Asset and Liability Statement
Asset and liability statement
Mortgages News
Buy to Let Market Update: October 2024
Welcome to ‘Buy-to-Let Market’, a column aimed at providing you with recent criteria and product updates within the buy-to-let lending markets. The information within this article is correct as at 26/09/2024.
Buy to Let Market Update: August 2024
Welcome to ‘Buy-to-Let Market’, a column aimed at providing you with recent criteria and product updates within the buy-to-let lending markets. The information within this article is correct as at 29/07/2024.
Buy to Let Market Update: June 2024
Welcome to ‘Buy to Let Market’, a column aimed at providing you with recent criteria and product updates within the Buy to Let lending markets. The information within this article is correct as at 24/05/2024.
Buy to Let Market Update: March 2024
Welcome to ‘Buy to Let Market’, a column aimed at providing you with recent criteria and product updates within the Buy to Let lending markets. The information within this article is correct as at 27/03/2024.
Buy to Let Market Update February 2024
Welcome to ‘Buy to Let Market’, a column aimed at providing you with recent criteria and product updates within the Buy to Let lending markets. The information within this article is correct as at 31/01/2024.
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 specialist 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.
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