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.

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. 

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.

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.

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.

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.

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.

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.

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.

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 can support portfolio landlords with re-financing their property business. Find out more by viewing the flipbook for more information. 

Make an enquiry online today or contact NRLA Mortgages on 0161 341 0581.