It reduces rates by up to 0.80%
Digital mortgage lender Molo Finance has announced rate reductions of up to 80 basis points (bps) across its fixed rate product range.
Rates are lower on Molo’s resident buy-to-let products, where lending is available at up to 80% loan-to-value (LTV).
These include individual and limited company standard rates, which now start from 4.65% for two-year fixes and 5.75% for five-year fixes. Individual and limited company specialist rates, including large house in multiple occupation (HMO) and multi-unit freehold block (MUFB), holiday lets, and new builds, have also been repriced and now start from 4.75% for two-year fixes and 5.85% for five-year fixes.
Meanwhile, rate reductions for the lender’s recently launched non-resident buy-to-let mortgages – where lending is available at up to 75% LTV – include individual and limited company two- and five-year fixed rates, starting from 7.99% for capital and interest mortgages and 8.74% for interest-only mortgages. There is also a 100bps reduction in product fee at 1.50%.
Its five-year switch product rates start from 6.24%, allowing borrowers to transition from fixed to tracker rates at any time during the term of the loan.
📉 We have reduced our #buytolet fixed rates across Resident and Non-Resident products by up to 80bps
— Molo (@molofinance) November 29, 2023
More details can be found in our press release: https://t.co/XbI1Nrttuw
#molofinance #fintechnews #mortgagenews #mortgagelender #mortgagerates #btlrates pic.twitter.com/oQiu4b0qUf
Full details of Molo’s complete range can be accessed in its resident and non-resident product guides, available online.
“We’re excited to announce these significant rate reductions, which reflect our ongoing commitment to delivering value to our customers in the UK and abroad across both our standard and specialist product range,” commented Mark Michaelides (pictured), vice president of strategy at Molo Finance.
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