Molo Finance, the UK’s first fully digital mortgage lending platform, has announced reductions to its buy-to-let (BTL) mortgage rates for UK residents, expats and non-UK residents, with adjustments of up to 25 basis points (bps).
Effective immediately, Molo’s new rates for UK residents see two-year fixed buy-to-let rates starting from 4.35% for individual and limited company borrowers at a 75% loan-to-value (LTV), while five-year fixed rates start at 4.96%Specialist property products including Multi-Unit Freehold Blocks (MUFB), Houses of Multiple Occupation (HMO), Holiday Lets and Investor-Led properties, also see reduced rates, from 4.45% for a two-year fixed and 5.06% for a five-year fixed rate.
Expats can also benefit from reduced rates, with two and five-year fixed BTL products now available from 4.99% for capital and interest mortgages and 5.74% for interest-only mortgages, both at a 70% LTV.
However, for non-UK residents, fixed rates remain unchanged, starting from 5.99% for a one-year fixed and 7.74% for a two-year fixed rate. While, tracker rates have been increased with two-year trackers starting from 8.65% and 8.84% for a five-year tracker, both at a 70% LTV.
Molo’s full range of mortgage products is accessible in our UK Resident, Expat, and Non-UK Resident product guides.
Please note that a £150 application fee applies to all new UK Resident applications submitted.
Commenting on the pricing, Molo’s Distribution Director, Martin Sims, says, “We are pleased to announce these updated rates across our buy-to-let product range. By offering more competitive rates, we aim to empower intermediaries to secure optimal financing solutions, helping them to meet their client’s needs”
