The new online provider (team pictured) is initially targeting borrowers directly.
Co-founder Francesca Carlesi told Mortgage Solutions that these customers did not need their hand held and were looking for a quick transaction.
But the lender also wants to engage with brokers and is currently in discussions with advisers, she added.
In some cases, applications will be referred for additional credit checks, but the lender still hopes to use processes such as real-time decision making to provide a final decision to the majority of customers within 24 hours.
The company is a “massive breakthrough for the market”, Carlesi said.
More market liquidity
The lending start-up is offering a range of two-, three- and five-year fixed buy-to-let deals for borrowers in England and Wales with products at up to 80% loan to value (LTV).
Rates start at 2.29% for a 65% LTV deal.
Carlesi said many buy-to-let investors were looking for easy and quick financing decisions and, following the recent market tax and regulatory changes, there was currently much more liquidity in the market, especially on the remortgage side.
Molo plans to extend its offering to residential propositions, as well as the rest of the UK in due course.
The provider has funding from a couple of institutional investors, which it hopes to develop.
Carlesi founded the company alongside Leo Gruenstein.
Former Financial Conduct Authority (FCA) mortgage sector manager Lynda Blackwell is a non-executive director of the start-up.