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Molo to include personal income in buy-to-let affordability assessments

by: Peter Taberner
  • 01/11/2023
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Molo to include personal income in buy-to-let affordability assessments
Molo Finance has introduced an affordability assessment for single applicants allowing customers to use their personal and rental income to support a buy-to-let mortgage application.

The digital lender stated that the new affordability tool is available across all product categories, including specialised offerings designed for houses in multiple occupation, multi-unit freehold blocks and portfolio landlords.

Molo said that this new assessment model ’empowers’ its customers to leverage their personal income to support their buy-to-let mortgage payments.

It added that landlords had faced difficulties in meeting borrowing requirements based only on an evaluation of their rental income, the interest coverage ratio.

The digital lender’s assessment holds data from various sources, such as credit bureaus and the Office for National Statistics to calculate a borrower’s net disposable income and make informed lending decisions.


Molo: ‘Helping investors leverage personal income’

Mark Michaelides, the VP of strategy at Molo said: “We recognise the difficult economic environment that landlords are facing today, so we are delighted to introduce Molo’s affordability assessment, helping investors leverage their personal income to finance property deals.

“We remain committed to innovation and adaptability in our approach and product offerings, all while maintaining robust affordability standards.”

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