Molo announce 80bps mortgage rate reductions

The lender has announced rate reductions of up to 0.80% across its resident and non-resident buy-to-let mortgage products.

Related topics:  Finance,  mortgages,  BTL
Property | Reporter
29th November 2023
Mortgage 221
"We’re excited to announce these significant rate reductions, which reflect our ongoing commitment to delivering value to our customers in the UK and abroad across both our standard and specialist product range"
- Mark Michaelides - Molo

Following the changes, Molo's resident buy-to-let range, individual and limited company standard rates now start from 4.65% fixed for two years and 5.75% fixed for five years.

Specialist individual and limited company rates (including large HMO and MUFB, holiday lets, and new builds) start from 4.75% and 5.85% for two and five-year fixed rates.

Lending is available up to 80% LTV with affordability assessments available if rental income is not sufficient.

For non-resident buy-to-let borrowers, two and five-year fixed rates start from 7.99% for capital and interest mortgages and 8.74% for interest-only mortgages, alongside a 100bps reduction in the product fee at 1.50%.

Lending is available up to 75% LTV with affordability assessments also available on loans up to 70% LTV.

Molo's five-year switch product rates have reduced to 6.24%, allowing borrowers to transition from fixed to tracker rates at any time during the term of the loan.

Molo’s VP of strategy, Mark Michaelides, commented: “We’re excited to announce these significant rate reductions, which reflect our ongoing commitment to delivering value to our customers in the UK and abroad across both our standard and specialist product range.”

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