Advisers will take advantage of Molo Finance's extensive BTL products.
Digital lender Molo Finance has become part of Beneficial Network’s lender panel.
With this move, mortgage and protection network Beneficial can now take advantage of Molo Finance’s wide range of buy-to-let (BTL) products.
The money that advisers within the network earn, they keep, because Beneficial charges a flat monthly fee and offers 100% procuration fees and commissions. It also provides a 100% file checking process and offers over 90 lenders for residential and commercial mortgages, including providers who offer protection, general insurance, and equity release.
Beneficial CEO Mat Rees described Molo Finance as an “exciting” addition to the panel, noting its “innovative use of technology” to underwrite mortgages online. He said this could ensure a “quick and seamless” process for appointed representatives (ARs) when placing BTL cases.
“At Beneficial network, we are constantly looking for ways to enhance and develop the service we provide to our Ars, and we are confident that our members will be impressed by Molo’s fintech-driven approach to mortgages,” Rees said.
Molo Finance CEO Matt Kimber said the company is delighted to partner with Beneficial Network.
“We will now be offering our digital mortgage solutions to their independent advisors, simplifying the BTL client journey and working with the network to provide further innovation to the advisor community,” he said.
Molo Finance is the first fully digital mortgage lender in the UK, servicing both experienced and first-time landlords residing in and outside the UK.
The company lends on various property types such as new builds, holiday lets, houses in multiple occupation, and multi-unit freehold blocks.
