Molo says it is pleased to announce the launch of Expat buy-to-let mortgages which are said to be specifically tailored for British Nationals residing abroad.
Expat fixed-rate mortgages are reportedly “available from 4.99% up to 70% loan-to-value (LTV) and 5.24% up to 80% LTV.”
As noted in the update, this product offering is “available to British nationals residing in over 70 countries, including Hong Kong, Singapore, UAE, and across the European Union.”
All Expat cases will be processed by AAA Financial Corporation.
Matthew Kimber, the Chief Operating Officer (COO) at Molo says:
“Our commitment to innovation and meeting the diverse needs of our clients is at the core of our mission. Since the introduction of our non-resident buy-to-let range, we’ve received positive feedback from the broker community, reflecting a strong interest in expat lending. The launch of Expat buy-to-let mortgages demonstrates our dedication to helping our customers.”
For additional information on this update, you may review the full company announcement here.
As covered, Molo explains that it is “a fintech that is transforming the mortgage industry as Europe’s only digitally native mortgage lender.”
Since Molo launched business operations back in 2018, it has “used technology to deliver simpler and faster online mortgage lending.”
Molo’s primary goal is “to transform the broken mortgage market, moving away from cumbersome, inefficient, and slow processes, to fast, near real-time decisions.”
Since its launch, Molo has led “change in the UK mortgage industry with over £1.7b mortgage applications submitted across our digital platform to date.”
Molo is backed by ColCap Financial Limited.
As reported previously, in February 2023, ColCap Financial Limited, an Australian privately owned nonbank mortgage lender, acquired “an 80% shareholding in Molo after the two companies entered a strategic partnership in 2022.”
This was considered to be a significant milestone in Molo’s history, “strengthening Molo’s position in the market and opening up new possibilities for international growth and innovation.”
