Molo Finance had expanded its buy-to-let product range to cater for loans for houses in multiple occupation and multi-unit freehold blocks with up to 12 lettable rooms or units.
The platform lender says its large HMO and MUFB mortgages are available for independent landlords, starting at 6.69% on a two-year fix, and 6.79% on a five-year fix (on all loan-to-value options) and across all sizes of HMO/MUFB.
These loans require at least 12 months of landlord experience. Physical valuations apply for six lettable rooms/units, with a red-book valuation required for properties with 7 to 12 lettable rooms/units.
The firm adds that large HMO and large MUFB cases will have a dedicated underwriter “to ensure a smooth and systematic process”.
Molo co-founder and chief executive Francesca Carlesi says: “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 BTL market.”
It also follows the recent launch of the lender’s rapid remortgage scheme and is in addition to its existing BTL product range that includes holiday lets, new builds, HMO, and portfolio landlords.
Carlesi adds: “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.”
