Molo Finance and TML offer new competitive BTL deals

Two leading buy to let mortgage lenders, Molo Finance and The Mortgage Lender (TML), have announced updates to their BTL mortgage ranges.

These changes include lower interest rates and the introduction of new product fee tiers, offering landlords more competitive options.

Molo has introduced a third product fee tier across its UK resident products, providing borrowers with a wider range of rate and fee combinations.

This includes a highly competitive 2.99% two-year fixed rate for individual and limited company borrowers, available at a 75% loan-to-value (LTV).

Reduced rates on its specialist products

The lender has also reduced rates on its specialist products, such as multi-unit freehold blocks (MUFBs), houses of multiple occupation (HMO), holiday lets and new build properties.

Martin Sims, Molo’s distribution director, said: “In response to ongoing shifts in the mortgage market, we’re pleased to offer reduced rates on our two-year fixed range, starting from 2.99%.

“We anticipate this will help brokers deliver even greater value to their clients looking for shorter-term fixed options in the face of a reducing rate environment.”

TML announces rate reductions

The Mortgage Lender (TML) has also announced rate reductions on several fixed rate products in its BTL range.

The lender has reduced its two-year fixed rate products by up to 20 basis points, with standard properties starting at 4.49% and HMO/MUB properties starting at 4.69%.

Selected five-year fixed rate fee-charging products have also seen rate reductions of five basis points.

Steve Griffiths, TML’s chief commercial officer, said: “We are pleased to announce a further series of reductions across our buy to let range.

“We’re dedicated to supporting customers whose needs may not be met by mainstream lenders, and we will continue to review and adjust our offering based on the realities of the evolving landscape.”