FAQS

Where does the cashback come from?

There are generally two ways a landlord can obtain a buy-to-let mortgage - either by going direct to the lender or by using the services of a broker. In both instances, there is a cost to the lender in placing the mortgage.

If you deal direct with the lender they have their own overheads. If you use a broker, the lender pays the broker a fee. Either way there is no impact on the cost of the mortgage to the landlord because the interest rate and fees are the same. NLA Mortgages chooses to pass part of the broker fee received from the lender to its members, in the form of a cashback.

 

What support do I have?

To enable you to get the most from the NLA Mortgages service, we have set up a support team to help with your enquiries. They will be able to assist you in many ways and to answer any questions you have about NLA Mortgages.

For example:

  • You would like assistance using the Sourcing and Quotation System to ensure that you find the most appropriate mortgage for your individual circumstances.
  • You would like to discuss the mortgage schemes available in more detail. The support team has an in-depth knowledge of lender criteria and the schemes available and will be able to help you find a buy-to-let mortgage to suit your needs.
  • You have a buy-to-let portfolio and would like to discuss your options in more detail.
  • You cannot find what you want on the NLA website or have found a better product elsewhere.
  • You would like help using the electronic application form or have some questions about the information you have to submit, then a member of the team is there to assist you.

The support team can be contacted on 029 2069 5555, Monday to Friday 9am to 5pm or by emailing support@nlamortgages.co.uk

When we have received your application we will contact you to see if you would like to register for Online Case Tracking (OCT). This will allow you to track the progress of your application via the internet 24 hours a day from anywhere in the world. Once you have registered for Online Case Tracking it can be accessed by clicking the button below.

 

How do I apply?

The details below explain the steps involved when applying for an NLA Mortgage:

  1. Go to the Sourcing and Quotation System to find a buy-to-let mortgage suitable for your needs.
  2. If you would like to discuss your enquiry with someone or are unable to find what you want on the Sourcing and Quotation System, please contact the support team on 029 2069 5555.
  3. Download and complete the application pack. Please remember to quote the Scheme ID for the mortgage you have chosen. The Scheme ID is displayed on the Sourcing and Quotation System.
  4. Send your application to NLA Mortgages

By email: apps@nlamortgages.co.uk

By fax: 029 2069 5401

By post:

 

NLA Mortgages
c/o The Business Mortgage Company
Greenmeadow House
2 Village Way
Greenmeadow Springs Business Park
Cardiff
CF15 7NE

 


Please send your application fee, as shown on the Sourcing and Quotation System, at the same time as submitting your application form. Cheques should be made payable to 'TBMC Ltd'.

You will receive email updates keeping you informed as your application progresses. When we have received your application we will contact you to see if you would like to register for Online Case Tracking (OCT). This will allow you to track the progress of your application via the internet 24 hours a day from anywhere in the world. Once you have registered for Online Case Tracking it can be accessed by clicking the button below.

 

What is the NLA Mortgage Application Process?

Step 1

You will receive an email acknowledgement that your application has been received. You will also be issued with your Landlord ID number which you should retain.

Step 2

We will ensure that your application meets the lenders criteria and obtain a ‘decision in principle’ (DIP) from the lender that they are happy to proceed. We will confirm this to you by email. If the lender is not happy to proceed then we will contact you to discuss the alternatives available.

Step 3

Once the decision in principle has been obtained we will send you an email listing any documents required by the lender and arrange collecting payment for valuation.

Step 4

We will contact you to advise you how to use our Online Case Tracking facility (OCT). This will allow you to monitor the progress of your mortgage application at any time from anywhere in the world!

Step 5

If all the documents have been recieved from you we will submit to the lender who will instruct the valuation.

Step 6

When the valuation has been undertaken we will contact you to advise if it is satisfactory. If the valuation is not acceptable for any reason we will discuss the next actions.

Step 7

If the valuation report and supporting documentation is acceptable the lender will proceed to formal Offer stage.

Step 8

When the offer is received we immediately send you a copy by email. The lender will also post the originial copies to you and your sSolicitor.

Step 9

Once the purchase/remortgage completes we send you the cashback you are entitled to as detailed in the Sourcing and Quotation System (SAQS).

 

© National Landlords Association : 22-26 Albert Embankment, London SE1 7TJ