Molo launches non-resident buy-to-let range

Molo says the new range will unlock UK investment opportunities for overseas borrowers.

Related topics:  Mortgages,  Buy-to-let
Rozi Jones | Editor, Barcadia Media Limited
25th October 2023
euro, eurozone, flag, ecb
"The UK property market continues to remain an appealing investment choice for global investors."

Molo Finance has launched a range of non-resident buy-to-let mortgages, unlocking investment opportunities for borrowers from around the world to secure a buy-to-let mortgage in England and Wales.

Following a pilot with a select number of broker firms in the UK and Asia, Molo has now announced the full-scale launch of its non-resident buy-to-let mortgage offering to all authorised broker partners.

The non-resident buy-to-let product range provides lending solutions to non-resident buyers of UK property, including those based in China, Hong Kong and Singapore, with no requirement for a UK bank account. Each mortgage package comes inclusive with Molo’s Savings Booster, a linked overpayment account designed to reduce monthly payments.

The range includes five-year tracker rates from 6.99% and two and five-year fixed rate products from 7.99%, with lending available up to 75% LTV.

In addition, a five-year switch product allows borrowers to transition from fixed to tracker rates, capitalising on potential Bank of England rate reductions.

Lending is available for first-time buyers and first-time landlords for both capital and interest and interest-only mortgages, catering to individuals and limited companies across a range of specialist products, including new builds, investor led, holiday let, HMOs and multi-unit freehold blocks (MUFBs).

A new partnership with AAA Financial Corporation brings 27 years of experience in international lending, supporting Molo in expanding its lending offering to include options for non-residents.

Francesca Carlesi, CEO and co-founder of Molo, commented: “The UK property market continues to remain an appealing investment choice for global investors. Molo is delighted to be able to provide non-residents with access to competitive and flexible financing options through our innovative product range.

"The introduction of our new non-resident buy-to-let product is a testament to our unwavering dedication to expanding possibilities and providing a seamless mortgage experience for all.”

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