Please be advised that we have updated our Policy on Source of Funds requirements and also our guide. Below is a detailed list of changes:
- External party credits will now be queried if >£10,000, rather than previous threshold of >£5,000
- Savings and Investments now require 6 months of history, rather than previous 12 month requirement
- Deposits paid to SRA Solicitors, no longer require Source of Funds background checks
Download the latest Source of Funds Guide from broker resources for full details.
Reminder of Molo International USPs
- Up to 85% LTV
- No minimum income threshold
- No UK bank account required
- ORA account, included with all loans, can be used as a functioning UK account to collect rent and make loan repayments
- Every £ in the ORA account will have a interest benefit of 50% of current interest rate. Benefit is calculated daily and rebated monthly
- ORA account is the same name as borrowing entity
- UK SPV borrowing structure acceptable
Recently launched Expat special
Earlier this week we released special pricing for Expats in select countries. Download the v7.6 Expat Guide to see the full details on the new rates.