Molo Finance has expanded its buy-to-let (BTL) product suite with a product range for large houses in multiple occupation (HMO) and large multi-unit freehold blocks (MUFB), designed to cater for properties with up to 12 lettable rooms or units.
This move followed the launch of the lender’s existing MUFB range, up to six units, and is in addition to its existing BTL product range, which includes: HMOs with six lettable rooms, holiday lets, new-builds, portfolio landlords and a rapid remortgage 24-hour proposition.
Molo’s large HMO and MUFB buy-to-let mortgages are available for independent landlords, with competitive rates starting from 6.69% on a 2-year fixed-rate, and 6.79% on a 5-year fixed-rate on all loan-to-value (LTV) options and across all sizes of HMO or MUFB.
All landlords are required to have a minimum of 12 months of landlord experience.
Physical valuations apply for properties with six lettable rooms or units, and a redbook valuation is required for properties with seven to 12 lettable rooms or units.
All Large HMO and large MUFB cases will have a dedicated underwriter.
Francesca Carlesi (pictured), CEO and co-founder at Molo Finance, 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.”
