The lender said the change followed a reduction in its cost of funding and was part of its focus on supporting borrowers and brokers.
The new pricing is available on deals open to investors and developers seeking funding for purchases, refurbishments, and capital raising.
Gavin Diamond, CEO of Inspired Lending, said: “We’ve been pleased with the growth we’ve achieved over the past 18 months and the trust we’ve built with brokers across the market. This rate reduction is a direct result of a drop in our cost of funding, and we’re passing that benefit on to our clients.
“At a time when bridging has an important role to play in unlocking opportunities, we want to make sure we remain competitive and accessible.”
Earlier this year, Inspired Lending became a member of the Bridging & Development Lenders Association (BDLA).
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Molo reduces rates for non-resident landlords
Molo has reduced rates for non-UK resident mortgages by 0.3%, introducing more competitive pricing for overseas landlords.
Its two-year fixed rates now start at 7.44% and five-year fixes from 7.24%. These are available to individual borrowers and limited company borrowers, including people residing in over 100 countries.
This will be combined with Molo’s flexible lending criteria, with applications assessed either using projected rental income or the borrower’s personal income.
Molo will lend for both purchase and remortgage up to 85% loan to value (LTV) on properties in England and Wales.
The non-UK resident range also includes lending for specialist cases such as houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs), and new builds. Borrowers can benefit from Molo’s Overpayment Reserve Account (ORA), which reduces interest charged on the loan.
Rates for UK residents remain unchanged, starting from 2.83%, while expat buy-to-let (BTL) rates start from 5.24%.
Martin Sims, distribution director at Molo, said: “We understand the unique challenges faced by intermediaries working with international landlords – from shifting economic conditions to assisting the safe navigation of UK regulations.
“Our latest rate reductions sharpen our non-resident pricing, offering greater affordability and flexible options to assist overseas investors looking to access or grow their presence in the UK BTL market.”
