The team at Molo Finance are pleased “to introduce a ‘Savings Booster’ feature across all of our buy-to-let products.”
Current market volatility in the UK has “resulted in landlords facing the highest mortgage interest rates in over a decade.” Recognizing the challenges they face, the team have “developed a new proposition that lets landlords reduce the amount of interest they pay, lowering the monthly cost of their mortgage.”
Francesca Carlesi, CEO and Co-Founder at Molo says:
“With interest rates at their highest for over a decade, landlords need more options for their buy-to-let mortgages. The private rental sector is an important part of the UK housing market, and hence landlords need lenders to be more innovative than ever. Molo is aware of the complex financing needs that landlords have, so we have gone beyond typical buy-to-let products to launch the Savings Booster, giving landlords true flexibility over their mortgage payments.”
As noted in the update, Molo is a Fintech start-up that is “transforming the mortgage industry as Europe’s only digitally native mortgage lender.”
Since it launched in 2018, the start-up “uses technology to deliver simpler and faster online mortgage lending – making homeownership easier for everyone.”
Molo’s primary goal is “to fix what is fundamentally broken in the mortgage market: cumbersome, inefficient, and slow processes, which become fast, real-time decisions.”
Since its launch, Molo has “led change in the UK mortgage industry, delivering online buy-to-let mortgage loans to customers with both speed and efficiency.”
As covered recently, Molo Finance has partnered with Brilliant Solutions, a distributor of mortgages that sits between mortgage brokers and lenders.
This partnership “further underlines Molo’s ambitions to offer fully-digital mortgages on a larger scale and it will provide Brilliant Solutions’ membership of directly authorized (DA) brokers with access to Molo’s extensive specialised buy-to-let product range.”
Molo are “offering products for Investor Led, Holiday Let, and New Builds, in addition to previous products like HMO and Portfolio Landlords being updated on Fixed, Variable and Tracker rates.”
Providing landlords more investment choices, “with the goal to support them through the current challenging market environment.”
As the UK’s first digital lender, Molo uses technology “to give customers an entirely paperless mortgage experience where the entire process takes place online.” Consequently, Molo can reportedly “offer mortgages to customers in days.”