Molo Finance has reduced rates across its UK resident buy-to-let (BTL) mortgage range by up to 49 bps. As a result, its two-year standard BTL fixes start from 2.74%, while five-year rates begin from 4.39%. These products are available to both individual and limited company landlords. Furthermore, the lender’s specialist BTL products, which include new builds, HMOs and MUFBs, start from 2.89% on its two-year fixed rates, with no additional fees for larger properties.

Pivotal Growth has appointed Mayank Prakesh as its new chief executive officer, effective from 1 September. He will join the mortgage broker consolidator having previously served as group chief operating officer at Evelyn Partners, where he led EBITDA growth across its wealth, professional and fund services. Prakesh also previously served as director general in the Government, where he scaled digital pensions services for 13 million customers.

StreamBank has completed a £455,000 bridging facility of support the purchase of a holiday let, structuring the deal against three properties to meet a strict two-week completion deadline. The borrower, an experienced property investor based in the South West, was seeking to secure a high-yielding holiday let opportunity in a coastal location. To meet the timeframe and provide the required loan amount, StreamBank structured the facility in a multi-security loan secured against three residential facilities. Funding was delivered at 61% LTV at a rate of 0.74% per month, supported by a £1,000 legal fee contribution through the StreamEdge product.

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