The range includes five-year tracker and fixed rate products
Digital mortgage lender Molo Finance has launched non-resident buy-to-let mortgages, providing investment opportunities for borrowers from around the world to secure a buy-to-let mortgage in England and Wales.
The lender has decided to make a full-scale launch of its non-resident buy-to-let mortgage offering to all authorised broker partners after a successful pilot with a select number of broker firms in the UK and Asia.
The non-resident buy-to-let product range accepts non-resident buyers of UK property, including those based in China, Hong Kong and Singapore, with no requirement for a UK bank account.
Each mortgage package also comes inclusive with Molo’s Savings Booster, a linked overpayment account designed to reduce monthly payments.
Big News Alert! 📣📣
— Molo (@molofinance) October 25, 2023
We are excited to introduce our new Non-resident #buytolet mortgage range. No UK bank account needed.
Welcome to a new era of property investment! 🏘️🌏
Press Release details here: https://t.co/szZQmqe9qU #fintechnews #mortgagenews #internationalbuytolet pic.twitter.com/BceDOVQRvF
The range includes five-year tracker rates from 6.99%, and two- and five-year fixed rate products from 7.99%, available at up to 75% loan-to-value (LTV).
The lender also introduced a five-year switch product, allowing borrowers to transfer from fixed to tracker rates, taking advantage of potential Bank of England rate reductions.
Lending is available for first-time buyers and first-time landlords for both capital and interest and interest-only mortgages for individuals and limited companies across a range of specialist products, including new builds, investor led, holiday let, houses in multiple occupation (HMOs), and multi-unit freehold blocks (MUFBs).
“The UK property market continues to remain an appealing investment choice for global investors,” commented Francesca Carlesi (pictured), Molo Finance chief executive and co-founder. “Molo is delighted to be able to provide non-residents with access to competitive and flexible financing options through our innovative product range.
“The introduction of our new non-resident buy-to-let product is a testament to our unwavering dedication to expanding possibilities and providing a seamless mortgage experience for all.”
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