"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"
- Francesca Carlesi - Molo
Following a pilot with broker firms in the UK and Asia, Molo Finance has fully launched its non-resident buy-to-let mortgage offering to all authorised broker partners.
According to the lender, the new range provides lending solutions to 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 of Molo’s Savings Booster, a linked overpayment account designed to reduce monthly payments.
The range includes five-year tracker rates from 6.99% and two and five-year fixed rate products from 7.99%, with lending available up to 75% LTV.
In addition, a five-year switch product allows 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, HMOs and multi-unit freehold blocks (MUFBs).
A new partnership with AAA Financial Corporation brings 27 years of experience in international lending, supporting Molo in expanding its lending offering to include options for non-residents.
Francesca Carlesi, CEO and co-founder of Molo, commented: “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.”