It is the second rate cut on the lender's UK resident BTL fixed product range in a month
Digital mortgage lender Molo Finance has announced rate reductions across its UK resident buy-to-let fixed products.
The lender’s BTL rates now start at 4.55% for a two-year fixed rate for both individual and limited companies up to 75% loan-to-value (LTV), marking a 17 basis points (bps) reduction. Five-year fixed rates for the standard range begin at 5.06%, reflecting a 15bps cut.
Rates for houses of multiple occupation (HMOs), 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 impact the UK resident mortgage range only. Expat and non-UK resident pricing remains the same.
Last month, the lender also announced rate cuts of up to 33bps on its UK resident buy-to-let fixed rate products. It also reduced buy-to-let 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,” said 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 over £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 companies entered a strategic partnership in 2022.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
