Molo Finance, the direct-to-consumer mortgage lender, has launched a buy-to-let product lending to limited companies with up to a total of four directors and/or significant shareholders.
The multi-director product allows for just one applicant to complete their part of the mortgage application online before an email is sent automatically to the next applicant.
This means multiple applicants will no longer need to all be present in one place to sign documents or give information.
Molo will accept applications from limited companies setup for the sole purpose of investing in property.
Terry McParlane, chief marketing officer at Molo Finance, said: “Lots of people are purchasing properties as couples, partnerships or friends coming together for an investment. There is definitely demand out there.
“We looked at Companies House data and other research to understand the tipping point. Two director companies are very popular but up to four can give us an advantage because many other lenders will cap it at two.
“Four was the optimum number to make sure we captured the broadest range and customer interest.”
Founder and CEO, Francesca Carlesi, added: “This has come in direct response to our own customer enquiries as well as an obvious need for this product in the wider market.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
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