Molo Finance has added multi-unit freehold blocks (MUFBs) to its buy-to-let (BTL) range, with rates starting from 5.19%.
The digital mortgage lender’s offering is designed to cater for properties with up to six units.
Molo’s MUFB BTL mortgages are available for independent landlords, with rates of 5.19% fixed for five-years with a 3.5% fee on both 65% and 75% loan-to-value (LTV) options. The lender added that valuations and stress testing will apply and that all MUFB mortgages are eligible for a “savings booster”, a linked overpayments account designed to help landlords reduce their monthly payments and minimise mortgage costs.
The move to add MUFBs follows the recent launch of Molo’s “rapid remortgage” proposition and is in addition to its existing BTL product range which includes holiday lets, new-builds, HMOs, and portfolio landlords.
CEO and co-founder at Molo, Francesca Carlesi, commented: “Landlords continue to look for property investment options, including ways to save money and diversify their portfolio.
“Introducing MUFB to our product range allows investors to maximise their rental income across several properties. This, along with our range of buy-to-let options and competitive rates, means landlords have even more choice when finding their next investment with Molo.”
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