Molo Finance cuts buy-to-let rates as mortgage competition hots up

Molo Finance has cut buy-to-let products for both individuals and limited company landlords.

For limited company borrowers there are 2-year fixes 2.90% to 65% loan-to-value, and 2.95% to 75% LTV.

When fixed for five years there is a product at 3.10% to 65% LTV and 3.15% to 75% LTV.

For individual buy-to-let applicants there are 2-year fixes at 2.24% to 65% LTV and 2.39% to 75% LTV.

The lender’s 5-year fixes meanwhile are priced at 2.29% to 65% LTV and 2.44% to 75% LTV.

Barclays and Furness Building Society both also made rate cuts this week, highlighting that the buy-to-let sector is seeing strong competition.

Francesca Carlesi, chief executive of Molo, said: “The mortgage market has never been so competitive.

“Lowering our prices gives landlords excellent options, whether they’re purchasing a property as an individual or a limited company.

“Our new rates, combined with an entirely digital approach for getting a mortgage, give investors more flexibility and allow them to go through the borrowing process at speed while saving money with Molo.”

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