Molo launches MUFB deal; Castle Trust adds one-year fix – round-up

This will be available to landlords who are buying or remortgaging freehold blocks with up to six units under one title. 

The rate starts from 5.19 per cent for a five-year fix with a 3.5 per cent fee at both 65 per cent loan to value (LTV) and 75 per cent LTV. 

The mortgages are eligible for Molo’s savings booster feature, which is a linked overpayments account which allows landlords to reduce their monthly payments and lower mortgage costs. 

Francesca Carlesi (pictured), CEO and co-founder at Molo said: “Landlords continue to look for property investment options, including ways to save money and diversify their portfolio.  

“Introducing MUFB to our product range allows investors to maximise their rental income across several properties. This, along with our range of buy-to-let options and competitive rates, means landlords have even more choice when finding their next investment with Molo.” 

Central Trust adds one-year fix 

Central Trust has launched a one-year fixed rate to its residential range. 

It is available for first charge mortgages on unencumbered properties only and second charge, including the lender’s consumer buy-to-let, family let and let-to-buy ranges. 

Central Trust said the product was launched to give borrowers more options in anticipation of lower rates and a settled market in 2024. 

The product is available up to 80 per cent LTV with a one per cent early repayment charge (ERC). Available loan sizes range from £10,000 to £250,000 and the rate starts from 8.83 per cent. 

The product is available across England, Wales, Scotland and Northern Ireland.  

Maeve Ward, commercial operations director at Central Trust, said: “As consumers continue to navigate an economy of uncertainty we hope that a one-year fixed rate product will provide certainty of payment. It also offers the freedom to leave for those who are more optimistic about further rate rises and the possibility of rates settling down over the next 12 months. 

“It allows clients to borrow with confidence, restructuring their finances or enhancing their property with a view to remortgaging without penalty. 

“2023 continues to be a year of continuous evolvement for Central Trust as we strive to support those otherwise underserved, extending our reach as far as possible.”