Molo Finance has announced the launch of expat buy-to-let mortgages for British nationals residing abroad.
Building on their non-resident buy-to-let mortgages which were introduced in October 2023, Molo is extending its product offering to include expat buy-to-let mortgages, providing financing for individuals residing and working overseas in Hong Kong, Singapore, UAE, the European Union, and a range of other countries.
The new expat buy-to-let mortgage introduces a one-year fixed product available from 4.99%, along with two and five-year fixed-rate products from 6.24%. Applications can be assessed using both rental coverage and income, with lending available for both property purchase and remortgage transactions in England and Wales up to 80% LTV.
Alongside the launch of expat buy-to-let mortgages, Molo has adjusted its rates for both UK-resident and non-UK resident products.
For UK residents:
- Individual and limited company two-year fixed-rates start from 4.55% for 75% LTV
- Individual and limited company five-year fixed-rates start at 5.44% for 75% LTV
For Non-UK residents:
- Individual and limited company standard one-year fixed-rates start from 5.99% for 70% LTV
- Individual and limited company standard two and five-year fixed-rates start from 7.74% for 70% LTV
Matthew Kimber, CEO of Molo, saidL “Our commitment to innovation and meeting the diverse needs of our clients is at the core of our mission. Since the introduction of our non-resident buy-to-let range, we’ve received positive feedback from the broker community, reflecting a strong interest in expat lending. The launch of expat buy-to-let mortgages demonstrates our dedication to helping our customers.”