Molo Finance have announced a product update. Contact our team for more information. If you would like further information directly from Molo Finance, visit their intermediary site here.
Molo launches Non-Resident Buy-to-Let Mortgages
Molo introduces new product range for non-resident buy-to-let mortgages, unlocking UK investment opportunities for overseas borrowers.
News Highlights
- 5-year tracker rates available from 6.99% and 2 and 5-year fixed rate deals available from 7.99%, with lending available up to 75% loan-to-value (LTV)
- Innovative 5-year switch product allows borrowers to move from a fixed-rate to tracker rate at any time during the loan period, taking advantage of any future reductions in the Bank of England rate
- Available to borrowers in over 60 countries, including China, Hong Kong and Singapore, and across the European Union. No UK bank account required
- Molo has partnered with AAA Financial Corporation to assess and coordinate all non-resident buy-to-let business
Wednesday, 25th October 2023: Molo Finance, the UK’s first fully digital mortgage lender is thrilled to launch Non-Resident Buy-to-Let Mortgages, unlocking investment opportunities for borrowers from around the world to secure a buy-to-let mortgage in England and Wales.
Following a successful pilot with a select number of broker firms in the UK and Asia, Molo are thrilled to announce the full-scale launch of its non-resident buy-to-let mortgage offering to all authorised broker partners.
The non-resident buy-to-let product range provides lending solutions to non-resident buyers of UK property, including those based in China, Hong Kong and Singapore, with no requirement for a UK bank account. Each mortgage package comes inclusive with Molo’s Savings Booster, a linked overpayment account strategically designed to reduce monthly payments.
The range offers competitive options, including 5-year tracker rates from 6.99% and 2 and 5-year fixed rate products from 7.99%, with lending available up to 75% loan-to-value (LTV). Molo introduces an innovative 5-year switch product, allowing borrowers to transition from fixed to tracker rates, capitalising on potential Bank of England rate reductions.
Lending is available for first-time buyers and first-time landlords for both capital and interest and interest-only mortgages, catering to individuals and limited companies across a range of specialist products, including New Builds, Investor Led, Holiday Let, Houses of Multiple Occupation (HMO), and Multi-unit Freehold Blocks (MUFB).
At Molo, our customers are at the core of our mission as we work to deliver creative financial solutions tailored to meet their distinct needs. The introduction of non-resident buy-to-let underscores our commitment to offering competitive and flexible lending options to customers residing abroad, eager to invest in the UK market.
A new partnership with AAA Financial Corporation brings 27 years of experience in international lending, supporting Molo in expanding its lending offering to include options for non-residents looking to purchase property in England & Wales.