NLA takes hassle out of finding best buy-to-let mortgages

NLA Mortgages, the free-to-use online sourcing and quotation system which also offers a significant cashback for landlords, is now making daily checks across the mortgage market to find the best mortgage products for UK landlords.

With a huge reduction in the number of actual buy-to-let mortgages available, it is now more complicated to keep track of which lenders are offering the best rates. It takes landlords' valuable time and money to either search the internet or pay a broker to find a mortgage.

NLA Mortgages provides landlords with the information and support they need to find the right mortgage to suit their individual circumstances and also offers a minimum of 0.25 per cent cashback.1 As well as accessing mortgage products which may not be available in the general marketplace, NLA Mortgages can also help to remortgage entire portfolios with a cashback guarantee of 0.275 per cent.

Although the growth rate for buy-to-let has slowed in recent months, the number of buy-to-let mortgages is still 19 per cent higher than in August 2007. Much more positively, lenders have now started to reduce their pricing making it easier for NLA Mortgages to make landlords' applications fit the criteria.

David Salusbury, Chairman, National Landlords Association, commenting on these new daily checks, said: "It is easy to spend hours on the internet entering and re-entering your personal and financial information, only to find out you do not fit a particular lender's criteria. With relatively few buy-to-let mortgages now available, it is very important to be on-the-ball and only looking at products which actually fit your expected rental income.

"NLA Mortgages was launched in April 2008 and has been helping landlords up and down the country to search out the best rates before they disappear. In addition, a mortgage of £250,000 means a cashback cheque for £625 will be in the post and helping landlords to cut the costs of their lettings business. So, all in all, it's pretty good news for landlords."

For more information about NLA Mortgages, please visit landlords.org.uk and click on the correct logo.