Molo has cut rates across its UK resident buy-to-let (BTL) five-year fixed offerings by up to 14 basis points.
For standard BTL products, five-year fixed rates now start at 4.81% for individual and limited companies, with borrowing available up to 75% loan to value (LTV).
Specialist BTL deals including options for houses of multiple occupation (HMOs), multi-unit freehold blocks (MUFBs), holiday lets, and new-build properties start at 4.95%.
Mortgage rates on two-year fixed deals remain unchanged, starting at 3.34% for standard BTL offerings and 3.53% for specialist options.
Martin Sims (pictured), Molo’s distribution director, said: “This move underscores our commitment to delivering competitive and flexible solutions to our intermediary partners and their clients.”
The latest figures from UK Finance showed an improvement in BTL lending volumes and values. There were 51,459 new BTL loans advanced in Q2 at a value of £8.9bn, a 26% annual surge in business.
Mind over mortgages: why we need to look after intermediaries’ mental health
Sponsored by Halifax Intermediaries
By value, this was 27.7% higher than the year before.
Molo’s rate cuts follow the lender’s appointment of Agnes Zhang as international telephone business development manager (ITBDM) as part of the expansion of its international lending proposition to meet rising demand from overseas clients.
