The latest pricing changes affect the UK resident mortgage range only
Digital mortgage lender Molo Finance has announced rate cuts across its UK resident BTL fixed products.
The lender’s buy-to-let rates now start at 4.55% for a two-year fixed rate for both individual and limited companies up to 75% LTV, marking a 17 bps cut. Five-year fixed rates for the standard range begin at 5.06%, reflecting a 15 basis points cut.
Rates for houses of multiple occupation, multi-unit freehold blocks (MUFB), new builds, and investor-led properties now start at 4.65% for a two-year fixed product and 5.16% for a five-year fixed product.
Details of Molo’s full range of mortgage products is available in its UK resident, expat, and non-UK resident product guides. The latest pricing changes affect the UK resident mortgage range only. Expat and non-UK resident pricing remains the same.
Last month, the lender also announced rate reductions of up to 33 basis points on its UK resident BTL fixed rate products. It also lowered BTL stress rates for both its two-year fixed and tracker mortgage products earlier this year.
After last week’s encouraging inflation news, we are now able to realign our UK resident BTL fixed rates, according to Martin Sims, distribution director at Molo Finance. This, we believe, will further assist our intermediary partners when structuring their landlord clients’ investment property finance and also secure enhanced future returns.
Since its launch in 2018, Molo Finance has provided technology-driven mortgage lending in the UK, with more than £1.7 billion mortgage applications submitted across its digital platform to date. In February 2023, ColCap Financial Limited, an Australian privately owned non-bank mortgage lender, acquired an 80% shareholding in Molo after the two firms entered a strategic partnership in 2022.
