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Molo unveils 24-hour remortgage buy-to-let service

Technology-focused lender Molo Finance is promising landlords and their advisers a 24-hour lending decision on remortgages.

Molo is speeding up the process by using automated property and rental valuations, reducing manual processing.

Francesca Carlesi, chief executive and co-founder at Molo said: “The customer experience is always at the forefront of everything we do.

“Molo’s automation engine streamlines the remortgaging process and offers approvals in just 24 hours, at competitive rates to help landlords save time and money.

“It means they can achieve their goals sooner, even in the current climate.”

Molo labelled the remortgage process “unnecessarily lengthy”, adding that the latest base rate rises presented challenges to landlords.

The lender’s buy-to-let remortgage rates include five-year fixed rates for both individuals and limited companies starting from 4.99%, with a 3.25% product fee, as well as a two-year fixed starting from 5.5% for limited companies with a 1.75% product fee.

In July 2022 Australian-based ColCap Financial bought an 80% stake in Molo, having partnered with the firm last year to help it re-enter the buy-to-let market.