Molo cuts BTL rates for UK and expat borrowers

Molo Finance has cut its buy to let fixed rates by up to 71 bps with products from 3.94% for two-year fixed and 5.19% for five-year fixed products.

The digital lender says the offers are available to both individual and corporate borrowers at 75% LTV.

Molo also caters to specialist segments, such as HMOs, MUFBs, holiday homes and new builds, with rates starting from 4.04% for two-year fixed and 5.29% for five-year fixed products.

For expat borrowers, the lender provides two- and five-year fixed rates from 7.54% for capital and interest and 8.29% for interest-only products, for both individual and corporate applicants.

Mark Michaelides, Molo’s VP of strategy, said: “With the swap rate trending lower and mortgage market stabilising as we start 2024, we are delighted to announce a comprehensive reduction across our buy to let fixed rate proposition for both UK resident and non-UK resident borrowers looking to purchase or remortgage.”

The launch of ‘Solutions by Foundation’

Meanwhile, Foundation Home Loans, the intermediary-only specialist lender, has announced the launch of ‘Solutions by Foundation’, a new suite of broad and specialist criteria and products for an additional layer of specialist buy to let needs, covering multi-occupancy properties, mixed-use property (part-commercial) and expat borrowers.

‘Solutions by Foundation’ offers lending on a wider range of properties, most notably mixed-use (part-commercial) properties with combined residential and commercial elements, where the valuation and rental income from the residential part exceeds 60% of the total.

It will also provide finance on specialist multi-occupation properties including MUBs up to 10 units and has options for a no bedroom limit on HMOs, plus the range will also cater for expats looking to finance a variety of property types, including holiday lets, short-term lets and HMOs.

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