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 Finance expands it’s buy-to-let product range
News Highlights
● Molo relaunched its buy-to-let product range with variable rates starting from 4.39%
for 65% loan-to-value (LTV) for individual buyers and 4.69% for Limited Companies,
65% LTV
● The new buy-to-let range offers a number of Fixed, Variable and Tracker rate
products
● Investor Led, Holiday Let, and New Builds are now also part of Molo’s buy-to-let
offering, in addition to previous products like HMO and Portfolio Landlords being
updated
● All Molo products now comes with “offset” and “redraw” functionalities, allowing
landlords to minimise the cost of their mortgage in the current environment
Thursday, 13th October 2022: Molo Finance, the UK’s first fully digital mortgage lending
platform, has announced that they’re adding several new products to its buy-to-let range.
Relaunching back into the market, Molo will be adding the following products to their
buy-to-let portfolio:
● Fixed rate mortgages: starting from 6.69% on 65% LTV for individual buyers and
6.99% on 65% LTV for limited companies
● Variable rate and tracker mortgages: starting from 4.39% on 65% LTV for individual
buyers and 4.69% on 65% LTV for limited companies, with rates linked to the Bank of
England (BoE) base rate
● Investor Led, Holiday Let, and New Build: allowing landlords to invest in property
starting from 4.69% on a 2-year or 5-year tracker and at 6.99% for a 5 year fixed
The new Molo Buy-to-let mortgage product range offers landlords more investment choices,
with the goal to support them through the current challenging market environment:
● The Fixed rate products allows landlords to lock in current rates for up to 5 years and
avoid impact of further rate rises
● The Variable and Tracker rate products are aimed at landlords who want to keep
monthly costs down in the short term compared to a fixed rate option. These
products will also help landlords who struggle to refinance to a fixed rate due to
tighter affordability conditions in the market, as it allows them to switch to a lower rate
than SVR in the short term
● All Molo products will enable customers to benefit from an offset and redraw
proposition, allowing them to use their savings to reduce the interest rate cost of their
mortgage and also to redraw any prepayment done on the mortgage if needed