Complex Buy To Let
Molo releases large HMO and MUFB range
Digital mortgage lender Molo Finance has expanded its proposition with product ranges for large houses of multiple occupation (HMO) and large multi-unit freehold blocks (MUFB).
The range is aimed at properties with up to 12 lettable rooms or units and comes after the launch of its existing MUFB range which caters for up to six units.
The range will sit alongside its existing products for HMOs for six lettable rooms, holiday let new builds, portfolio landlords and rapid remortgage 24-hour proposition.
The products are available for independent landlords with rates starting from 6.69 per cent for a two-year fixed rate and 6.79 per cent for a five-year fixed rate.
Landlords have to have a minimum of 12 months of landlord experience and physical valuations apply for six lettable rooms or units and the red-book valuations needed for properties with seven to 12 lettable rooms or units.
All large HMO and MUFB cases will have a dedicated underwriter to “ensure a smooth and systematic process”.
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Francesca Carlesi (pictured), CEO and co-founder at Molo, said: “From the successful launch of Molo’s existing HMO and MUFB range, we received feedback from landlords who have an appetite for properties with 12 lettable bedrooms or units as they seek additional property investment options to diversify their portfolio.
“Our new large HMO and MUFB product range provides investors with competitive alternatives to help maximise their rental income across several properties, allowing Molo to remain competitive within the buy-to-let market.”