Molo Finance mortgage review September 2019
Molo Finance is the UK's first digital-only mortgage lender. Currently, it only offers buy-to-let mortgages, but will expand into residential mortgages soon.
Having launched in 2017, Molo started with buy-to-let deals but says it will expand into offering residential mortgages soon.
If the idea of arranging a hassle-free buy-to-let mortgage online sounds appealing, Molo Finance could be the lender for you.
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What types of mortgage does Molo Finance provide?
How can I contact Molo Finance?
How do I apply for a Molo Finance mortgage?
You can apply for a Molo Finance mortgage by clicking the “Apply Now” button on the top right corner of its website. This will take you to the application page, where you first choose your mortgage type and size. You’ll be asked to fill in a few personal details, then submit your application.
The lender will perform a credit check before emailing you a quote. Molo Finance says the application process should only take a few minutes.
Before you submit your application, you’ll be asked to confirm that you meet the following eligibility criteria:
- You are a UK resident who has been living in the UK for the last three years.
- You haven’t declared bankrupt in the last six years.
- You’re looking for a buy-to-let property, not a property to live in.
- You don’t have more than three mortgages on other buy-to-let properties.
- The property is located in England or Wales.
- The property will not be used for renting to multiple occupants, so it does not qualify as an HMO (House in Multiple Occupation).
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