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Molo launches product for multi-director limited company borrowing

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  • 28/08/2019
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Molo launches product for multi-director limited company borrowing
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.” 

 

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