High street banks and mortgage lenders continue to increase their rates in response to a rise in swap rates. At Molo, we regularly review our pricing structure and will be make changes across our buy-to-let 5 year fixed rate products in line with current market conditions. This decision was not made lightly, but in response to external economic factors that are beyond our control.
Key Highlights:
New Rates effective from Wednesday 21st June
- Increased pricing on our 5 year range for 65% and 75% LTV rates
- Increases in rates across our Individual and Ltd company standard products, with rates starting from 6.18%
- Increases in rates across our Individual and Ltd company specialist products, with rates starting from 6.38%
- All 5 year 80% LTV products and 2 year fixed-rate products will remain the same at our current pricing
- Existing product range will be withdrawn midnight Tuesday 20th June 2023. Applications need to be full submitted before close of business, 5pm.
Our full range will be available to view in our product guide from 21st June 2023.
Our commitment to customer service
We understand some lenders have only provided a few hours notice of withdrawals, bringing chaos and uncertainty to the market and leaving buyers without offers.
We are committed to providing you and your clients with a first-class standard of customer service. For that reason, we are giving you as much notice as possible.
As a digital lender, our key focus is on the speed of service and staying competitive in this ever-changing and challenging market.
If you have any questions, please don’t hesitate to get in touch with us by email at brokersupport@molofinance.com