Innovative buy to let mortgage product launched by digital lender

Molo, which calls itself the UK’s first fully digital mortgage lender, has launched a Non-Resident Buy-to-Let Mortgages, unlocking investment opportunities for borrowers from around the world.

Following a successful pilot with broker firms in the UK and Asia, Molo is offering the product now to all non-resident buyers of UK property, including those based in China, Hong Kong and Singapore, with no requirement for a UK bank account. 

Each mortgage package comes inclusive with Molo’s Savings Booster, a linked overpayment account designed to reduce monthly payments.

The range offers competitive options, including five year tracker rates from 6.99 per cent and two and five year fixed rate products from 7.99 per cent with lending available up to 75 per cent loan-to-value.

Molo introduces an innovative five year switch product, allowing borrowers to transition from fixed to tracker rates, capitalising on potential Bank of England rate reductions.

Lending is available for first-time buyers and first-time landlords for both capital and interest and interest-only mortgages, catering to individuals and limited companies across a range of specialist products, including New Builds, Investor Led, Holiday Let, Houses of Multiple Occupation and Multi-unit Freehold Blocks.

Molo has also announced a new partnership with AAA Financial Corporation bringing 27 years of experience in international lending, supporting Molo in expanding its lending offering to include options for non-residents looking to purchase property in England and Wales.

Francesca Carlesi, chief executive of Molo says: “The UK property market continues to remain an appealing investment choice for global investors. Molo is delighted to be able to provide non-residents with access to competitive and flexible financing options through our innovative product range.

“The introduction of our new non-resident buy-to-let product is a testament to our unwavering dedication to expanding possibilities and providing a seamless mortgage experience for all.”