With cuts of up to 71 basis points, lender's rates now start at 3.94%
Digital mortgage lender Molo Finance has made substantial reductions in its buy-to-let fixed rate products, slashing rates by up to 71 basis points (bps).
Molo’s buy-to-let rates, starting at 3.94% for a two-year fixed term at 75% loan-to-value (LTV), apply to both individual and limited companies. Five-year fixed rates start at 5.19%.
Specialised product rates are also available, beginning at 4.04% for a two-year fixed term and 5.29% for a five-year fixed term. These cater to houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) with up to 12 lettable rooms and units, along with holiday lets and new build properties.
As part of Molo’s non-UK resident proposition, two- and five-year fixed rates for both individual and limited company applicants now start from 7.54% for capital and interest mortgages and 8.29% for interest-only mortgages.
Details of Molo’s entire range of mortgage products can be accessed through its updated resident and non-resident product guides.
“With the swap rate trending lower and mortgage market stabilising as we start 2024, we are delighted to announce today a comprehensive reduction across our buy-to-let fixed rate proposition for both UK resident and non-UK resident borrowers looking to purchase or remortgage,” commented Mark Michaelides (pictured), vice president of strategy at Molo Finance.
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