Molo Finance has introduced a new tier of product fees, including some deals with a 7% fee.
The fully digital mortgage lender has introduced the third tier to provide a wider range of rate and product fee combinations across standard and specialist buy-to-let (BTL) options.
The options now include a 2.99% two-year fixed rate for individual and limited company borrowers at 75% loan to value (LTV).
Higher fees
The 7% fee is on two five-year fixed-rate deals within its standard BTL range.
One of these deals is at 75% LTV with a rate of 4.49%, and the other is at 80% LTV with a rate of 4.59%.
Introducing the Green Living Reward
Your clients can now get up to £2,000 cashback for making energy-efficient home
Sponsored by Halifax Intermediaries
There is also a 7% fee on some of the deals in its specialist BTL range for individual and limited companies.
These are all on five-year fixed rate deals, including one at 65% LTV with a rate of 4.59%.
The two others with the 7% fee are a 75% LTV deal with a rate of 4.74% and an 80% LTV product with a rate of 4.74%.
Reduced rates
Specialist products, including multi-unit freehold blocks (MUFBs), houses of multiple occupation (HMOs), holiday lets, and new-build properties, have also seen rate reductions.
Two-year fixed rates for these products now start from 4.14%, with five-year fixed rates from 4.59%.
Martin Sims, Molo Finance’s distribution director, said: “In response to ongoing shifts in the mortgage market, we’re pleased to offer reduced rates on our two-year fixed range.
“We anticipate this will help brokers deliver even greater value to their clients looking for shorter-term fixed options in the face of a reducing rate environment.
“These changes reflect continued commitment to our intermediary partners and, in support of them, offering the most competitive solutions to property investors.”
