Molo Finance- Announcing Buy-to-Let Mortgages for Portfolio Landlords
As Molo Finance continues growing in the BTL space, they’re always looking at ways to enhance their criteria and digital process to support their Broker partners.
With that in mind, they are pleased to announce that Molo Finance has entered the Portfolio Buy-to-Let space and they are able to offer your portfolio clients a competitive alternative to other lenders in the same area.
Twenty-eight per cent of landlords have between five and 10 properties and make up a significant portion of the market. A further 42% own between two and four properties, which showcases landlords’ ambition to build their portfolio.
It’s an important time to launch portfolio landlord mortgages, which sit alongside their products such as individual BTL properties, Ltd company mortgages, HMO and remortgages.
Molo’s Buy-to-Let Lending Criteria for Portfolio Landlords
Eligibility requirements:
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Maximum of 10 mortgaged buy to lets across all applicants including the security
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No limit to the number of unencumbered properties
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Full Existing BTL product range applies including 5-year-fixed rates
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Available to Individual and SPV borrowers
Background portfolio criteria:
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Maximum background portfolio LTV of 75%
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Background Portfolio Interest Cover requirement is 100% stressed at 5.5%
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Details of assets and liabilities, and cash flow required at underwriter’s discretion.
See how Molo can help you and your Portfolio Clients click by visiting Molo’s Broker Page here. You can also find a copy of our full Mortgage Lending Criteria attached for reference.
Alternatively, please feel free to contact their Broker Support Team on 0333-0068288. They will be happy to answer any questions or discuss cases with you.
