Molo looking to relaunch back into UK buy-to-let market

Published on

Molo Finance has announced the strategic partnership with Australian mortgage lender, ColCap Financial, to expand into the UK.

ColCap, founded in 2006 is a privately owned, non-bank financial institution specialising in mortgage lending. It currently has a loan portfolio of over A$11 billion through its Wholesale, Retail and Broker distribution channels.

The partnership includes a broader strategic alliance between the two lenders that will allow ColCap to expand into the UK market as the first step of their international strategy, following several years of successful growth in Australia.

As part of the agreement, ColCap has made a strategic investment into Molo and will provide its support in further expanding its access to mortgage funding to restart and accelerate its growth into the buy-to-let market.

Following the new partnership Molo is looking to relaunch back into the market soon with a new product range for its buy-to-let products, after having suspended its products since April 2022, due to capital markets volatility and its impact on some of Molo’s former funders.

Francesca Carlesi, CEO and vo-Founder of Molo, said: “We are delighted to be partnering with ColCap, who understands our strategy and tech-led proposition. They are recognised as one of the leading distributors in the mortgage industry in Australia with more than 16 years experience and with a track record of delivering innovative competitive products to customers.

“This partnership will integrate ColCap’s product innovation with Molo’s innovative tech platform, and strengthen our offering further as we work to relaunch back into the market.”

Andrew Chepul, CEO of ColCap, added: “We are excited to move into the UK and to deliver new lending products in the marketplace, as we have done in Australia. Our partnership with Molo fits perfectly within our strategic plan. We believe our shared values, synergies, and combined strengths will enable accelerated growth for both businesses.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...