Molo, the specialist mortgage lender for UK and overseas customers, has reduced its non-UK resident fixed-rate range by 0.30%, improving affordability for overseas landlords.
Effective immediately, 2-year fixed rates start at 7.44%, with 5-year fixed rates from 7.24%.
Rates are open to both individuals and limited companies, including borrowers residing in over 100 countries.
Applications can be assessed using either projected rental income or the borrower’s personal income. Lending is also available for both purchase and remortgage, up to 85% loan-to-value (LTV) on properties in England and Wales.
Martin Sims (pictured), Molo’s distribution director, 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.”
