Molo Finance are pleased to announce the expansion of their buy to let product 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
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.”
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.”
Francesca Carlesi, CEO and Co-Founder of Molo, said:
“I am pleased to let all our customers know that we are launching to market a brand new product range, designed for the new market conditions but also able to support a larger number of landlords to realise their investment in property. Especially in a volatile market like today, property remains one of the most stable and safe asset classes and we are excited about being able to support our customers in their property investment decisions going forward“.
As noted in the update, Molo is a Fintech start-up that claims it 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.”
Molo is FCA regulated, “providing residential mortgages as well as buy-to-let.”
