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.
New pricing for Molo’s buy-to-let product range
Changes effective from Tuesday 4th July
You will be aware that the Bank of England has raised the base interest rate for the thirteenth consecutive time by 0.50bps to 5.0%. After evaluating the current market conditions, we’ve decided to adjust our pricing range in response to external economic factors.
Key Highlights:
New Rates effective from Tuesday 4th July
● Reductions across all 2-year fixed-rate products
● Individuals and limited company standard 2 year fixed-rates start from 6.49%, and 6.59% on 5-year fixed-rates
● Individuals and limited company specialist (including Large HMO & MUFB) 2-year fixed-rates start from 6.69%, and 6.79% on 5-year fixed-rates
● Existing product range will be withdrawn midnight Monday 3rd July 2023.
● Applications need to be submitted in full before close of business, 5 pm.
Our full range will be available to view in our product guide from 4th July 2023.
Our commitment to customer service
In this era of continuous market unpredictability, borrowers find themselves navigating a landscape filled with challenges and uncertainty.
At Molo, our unwavering dedication is to continuously monitor volatile market dynamics and tailor our product lineup to benefit customers amidst current market unpredictability. Rest assured, we are working hard in the background to assess the situation and create a fit-for-purpose product range that gives you the best outcome in the turbulent market.
If you have any questions, please don’t hesitate to get in touch with us by email at [email protected]
Molo launches new large HMO and large MUFB offering
Expanding our existing HMO & MUFB range to cater to landlords purchasing or remortgaging
properties with up to 12 lettable rooms/units.
News Highlights
- Molo expands its existing Houses of Occupation (HMO) and Multi-Unit Freehold Block (MUFB) mortgage proposition for landlords
- One mortgage for up to 12 lettable rooms/units listed under one freehold title
- Molo’s HMO and MUFB rates start from 6.69% on a 2-year fixed rate and 6.79% on 5-year fixed rates (on all LTV options) and across all sizes of HMO/MUFB.
Tuesday, 4th July 2023: Molo Finance, the UK’s first fully digital mortgage lender, expands its buy-to-let product suite with a new product range for large Houses of Multiple Occupation (HMO) and large Multi-unit Freehold Blocks (MUFB), designed to cater for properties with up to 12 lettable rooms/units.
This move follows the recent launch of the lender’s existing MUFB range (up to 6 units) and is in addition to its existing buy-to-let product range that includes: HMO (for 6 lettable rooms), Holiday Let, New Builds, Portfolio Landlords and Rapid Remortgage 24-hour proposition.
Molo’s large HMO and MUFB buy-to-let mortgages are available for independent landlords, with competitive rates starting from 6.69% on a 2-year fixed-rate, and 6.79% on a 5-year fixed-rate (on all LTV options) and across all sizes of HMO/MUFB. All landlords are required to have a minimum of 12 months of landlord experience. Physical valuations apply for 6 lettable rooms/units, and a red-book valuation is required for properties with 7-12 lettable rooms/units.
Molo is committed to providing customers with first-class standards of customer service. Therefore, all Large HMO and large MUFB cases will have a dedicated underwriter to ensure a smooth and systematic process.