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TODAY'S OTHER NEWS

NLA updates mortgage sourcing system ahead of tax changes

Online mortgage search tool NLA Mortgages has implemented a new sourcing system, allowing landlords to find mortgage products based on their tax status.

The free system has been updated to include a filter for selecting products depending on whether the user is a basic rate taxpayer or higher/additional rate taxpayer.

The changes come in response to recent high profile legislative changes, including the restriction of buy-to-let mortgage interest tax relief and the Prudential Regulation Authority's tightening of buy-to-let mortgage lending criteria.

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"The buy-to-let mortgage market is now more complex than it has ever been and we are keen to take action to help our landlord clients navigate this new landscape," explains Jane Simpson, NLA Mortgages managing director.

“Our enhanced sourcing system allows landlords to select their tax status upfront and see an instant list of the lenders and products that are available."

"It is unique in the marketplace and has been designed specifically to help landlords source suitable buy-to-let products to meet their individual needs,” she adds.

The new sourcing system can be accessed via the NLA Mortgages website.

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