Molo trimming BTL product price, Lendinvest lowers rates for two years RESI repair – Staking Strategy

Molo has lowered its UK Resident Purchase (BTL) mortgage products by 20 basis points.

Now, the two-year fixed interest rate for standard BTL products starts at 2.83%, while the five-year fixed interest rate starts at 4.54%, which can be used for individual borrowers and limited corporate borrowers.

Pricing changes only affect the scope of mortgage loans for UK residents, while Non-UK residents and foreign pricing remains unchanged.

“As the market changes, brokers need to act quickly and focus on affordable lenders. At Molo, we are doing this – providing ongoing competitive prices and helping brokers find solutions for today and long-term use for clients.”

Meanwhile, all two-year fixed-term mortgages on Lendinvest mortgages can reach up to 15 basis points.

The lender’s five-year fixed-term residential products will also be reduced by 10bps.

These new prices are now available and allow brokers and intermediaries across England, Wales and Scotland to support clients who wish to buy a new home or cash out their existing homes.

The announcement comes after lenders recently redesigned their credit standards.

There are now four different categories, each designed to meet different levels of allowable adverse credit.

Paula Mercer, director of sales at Lendinvest, said: “Lendinvest has been committed to people who want to buy new homes, which is why we are happy to announce these rate changes for our two- and five-year fixed-term residential mortgage products.”

“We also know that everyone is different and their credit history’s ‘Blips’ should not prevent them from having their own home.”

“That’s why we looked closely at our credit standards and created four unique levels, each allowing loans to those with different adverse credit history, including defaults, oweds and CCJS.”