Molo Finance has announced an up to 80bps reduction in pricing across its fixed-rate product range.
Rate reductions for resident buy-to-let include:
- Individual and limited company standard rates start from 4.65% (2-year fixed) and 5.75% (5-year fixed)
- Individual and limited company specialist rates (including Large HMO & MUFB, holiday lets, and new builds) start from 4.75% (2-year fixed) and 5.85% (5-year fixed)
- Lending available up to 80% loan-to-value (LTV) with affordability assessment available if rental is not sufficient
Rate reductions for non-resident buy-to-let include:
- Individual and limited company 2 and 5-year fixed-rates start from 7.99% for capital and interest mortgages and 8.74% for interest only mortgages, alongside a 100bps reduction in product fee at 1.50%
- Lending is available up to 75% LTV with affordability assessment available on loans up to 70% LTV if rental is not sufficient
Five-year switch product rates start from 6.24%, allowing borrowers to transition from fixed to tracker rates at any time during the term of the loan, capitalising on potential Bank of England rate reductions
Mark Michaelides, Molo’s VP of strategy, said: “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.”
