It also reprices UK resident and non-UK resident deals
Digital mortgage lender Molo Finance has expanded its offerings to include expat buy-to-let mortgages, specifically designed for British nationals living overseas.
The expat buy-to-let mortgage range features a one-year fixed product starting at 4.99%, with two- and five-year fixed rate products beginning at 6.24%.
These mortgages are available for both property purchases and remortgage transactions in England and Wales, offering up to 80% loan-to-value (LTV). Applications will be evaluated based on rental coverage, as well as income.
The launch of the new products comes after the lender’s introduction of non-resident buy-to-let mortgages in October 2023. The new product range now provides financing for individuals working and residing in key global markets such as Hong Kong, Singapore, the UAE, the European Union, and several other countries.
Big News Alert! 📣📣
— Molo (@molofinance) October 25, 2023
We are excited to introduce our new Non-resident #buytolet mortgage range. No UK bank account needed.
Welcome to a new era of property investment! 🏘️🌏
Press Release details here: https://t.co/szZQmqe9qU #fintechnews #mortgagenews #internationalbuytolet pic.twitter.com/BceDOVQRvF
Alongside the expat buy-to-let mortgage launch, Molo has revised rates for both its UK resident and non-UK resident products.
For UK residents, two-year fixed rates for individuals and limited companies now start from 4.55% at 75% LTV, with five-year fixed rates beginning at 5.44% for the same LTV.
For non-UK residents, standard one-year fixed rates begin at 5.99% for 70% LTV, with two- and five-year fixed rates starting from 7.74% for the same LTV.
“Our commitment to innovation and meeting the diverse needs of our clients is at the core of our mission,” said Matthew Kimber (pictured), chief executive at Molo Finance. “Since the introduction of our non-resident buy-to-let range, we’ve received positive feedback from the broker community, reflecting a strong interest in expat lending. The launch of expat buy-to-let mortgages demonstrates our dedication to helping our customers.”
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