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.
Fixed-rate products reduced
Molo continuously reviews its pricing structure to ensure landlords get the best service and value.
With that in mind, we are reducing rates by up to 80bps across our resident fixed-rate product range as well as reducing our product fee by 100bps on our non-resident fixed-rate products. These new rates are effective from today.
Key highlights:
- New rates effective from Wednesday 29th November
Rate reductions for Resident buy-to-let include:
- Individual and limited company standard rates start from 4.65% (2-year fixed) and 5.75% (5-year fixed)
- Individual and limited company specialist rates (including Large HMO & MUFB, holiday lets, and new builds) start from 4.75% (2-year fixed) and 5.85% (5-year fixed)
- Lending available up to 80% loan-to-value (LTV) with affordability assessment available if rental is not sufficient
Rate reductions for Non-Resident buy-to-let include:
- Individual and limited company 2 and 5-year fixed-rates start from 7.99% for capital and interest mortgages and 8.74% for interest only mortgages, alongside a 100bps reduction in product fee at 1.50%
- Lending is available up to 75% LTV with affordability assessment available on loans up to 70% LTV if rental is not sufficient
- Innovative “5-year switch” product rates start from 6.24%, allowing borrowers to transition from fixed to tracker rates at any time during the term of the loan, capitalising on potential Bank of England rate reductions
Our Resident and Non-Resident product guides have all the details you need for price change specifics.
Our latest fixed-rate pricing opens up more investment opportunities for both resident and non-resident landlords across both our standard and specialist product ranges. This initiative is designed to assist borrowers in navigating the challenges of the current market environment.
See how Molo can help you and your clients by visiting our Broker Page for more information.
As always, if you have any questions don’t hesitate to get in touch with us by email at [email protected].