Buy to let landlords in the UK have been offered an incentive to remortgage their properties or take out a new buy to let mortgage. The National Landlords’ Association, or NLA, has launched a new service that caters for these groups and gives them the opportunity to earn cash back on buy to let mortgages that are remortgages as well as on newer buy to let deals.
When a mortgage is placed through the firm the borrower can benefit from at least 0.25% of the amount advanced bring returned by way of cash back. This would mean over £600 worth of cash back on a mortgage loan of £250,000, Members can also opt to remortgage five or more properties at the same time, which would net £2 million worth of mortgages around £5,500 based on 0,275% of the loan.
An official from the NLA commented on the new service, stating: “With around 80 per cent 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.”
He added: “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% cashback which will help reduce the costs of getting a new secured loan advance.”
Landlords can join the NLA for as little as £88 and this will give them the benefits and peace of mind that comes with membership. Members can then enjoy excellent advice, support, and assistance.