"We received feedback from landlords who have an appetite for properties with 12 lettable bedrooms or units"
Molo Finance is expanding its buy-to-let product suite with a new range for large HMOs and multi-unit freehold blocks (MUFB), designed to cater for properties with up to 12 lettable rooms/units.
This move follows the recent launch of the lender’s existing MUFB range (up to 6 units) and is in addition to its existing buy-to-let product range that includes HMOs for 6 lettable rooms, holiday let, new builds, portfolio landlords and its rapid remortgage 24-hour proposition.
Molo’s large HMO and MUFB buy-to-let mortgages are available for independent landlords, with rates starting from 6.69% on a two-year fixed-rate and 6.79% on a five-year fixed-rate across all LTV options and all sizes of HMO/MUFB. All landlords are required to have a minimum of 12 months of landlord experience.
Physical valuations apply for 6 lettable rooms/units, and a red-book valuation is required for properties with 7-12 lettable rooms/units.
All large HMO and large MUFB cases will have a dedicated underwriter to ensure a smooth and systematic process.
Francesca Carlesi, CEO and co-founder at Molo, said: “From the successful launch of Molo’s existing HMO and MUFB range, we received feedback from landlords who have an appetite for properties with 12 lettable bedrooms or units as they seek additional property investment options to diversify their portfolio.
"Our new large HMO and MUFB product range provides investors with competitive alternatives to help maximise their rental income across several properties, allowing Molo to remain competitive within the buy-to-let market.”
