Finova’s 450 brokers will have access to Molo’s diverse range of online mortgage products, which can offer a two-minute, paper-free decision in principle on applications.
Benefits to Finova’s members include access to a wide range of products, including buy-to-let mortgages of up to 80 per cent LTV, up to 24-hour turnaround remortgage offers, with flexible two and five-year fixed and variable rates.
Finova has a fast-growing panel of over 80 lenders, offering products from standard mortgages to specialist and niche lending solutions, including residential, buy to let, second charge, commercial and development, and equity release.
Customer choice foremost priority
Sasha Sprake, head of business development at Finova Connect, said: “Customer choice is our foremost priority and the addition of Molo will ensure our members can offer an efficient and fully digital service to its customers through the platform.
“Today, customers are familiar with seamless digital experiences, whether they are paying for a weekly shop or organising their savings. It’s only natural that they would expect the same level of service from a mortgage application.
“We are delighted to be partnering with Molo, whose dedication to the consumer with their fully digital and automated originations process will be a great benefit to our members.”
Peter Charge, head of intermediary sales at Molo, said: “At Molo, we recognise the importance of supporting clubs and networks, and are thrilled to join Finova Payment and Mortgage Services’ lender panel to help even more borrowers access our online mortgages.”
Since launch, Molo has originated over £300m in online mortgage loans and is funded by ColCap Financial. In March 2023, ColCap Financial, a privately owned non-bank Australian mortgage lender, acquired an 80 per cent shareholding in Molo after the two companies entered a strategic partnership in 2022.
