Good news for landlords and property investors – Molo Finance has just announced cuts to their buy-to-let (BTL) mortgage rates! This means you could be paying less each month on your investment property and pocketing more profit.
What’s Changed?
Molo has reduced their fixed-rate deals across the board. Here’s the lowdown:
- 2-Year Fixed Rates: These now start at a super competitive 4.55% for both individuals and limited companies, if you have a loan-to-value (LTV) of up to 75%. That’s a 0.17% reduction compared to before, which means you’ll save a bit more on your monthly payments!
- 5-Year Fixed Rates: For the standard range, you can now lock in a rate of 5.06%, representing a 0.15% reduction. That means more stability and predictable repayments over the long term.
- Special Deals for HMOs, MUFBs, New-Builds and More: If you’re investing in houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs), or new-builds, Molo has got you covered. Their 2-year fixed rates for these types of properties now start at 4.65%, and their 5-year fixed rates begin at 5.16%.
Why is Molo Cutting Rates?
Molo says their decision to lower rates comes after some recent good news about inflation. Basically, they’re feeling more optimistic about the economy, and they want to help landlords benefit from that.
What Does This Mean for You?
Lower mortgage rates mean:
- Lower Monthly Repayments: This means more money in your pocket!
- Greater Profit Potential: You’ll have more cashflow to reinvest in your properties or simply enjoy a bigger return on your investment.
- More Attractive Deals: These competitive rates can help you secure better deals on properties you’re looking to buy.
If you’re considering buying an investment property or refinancing your existing mortgage, it’s definitely worth chatting to your mortgage broker to see how these new rates could work for you.