The specialist lender will now offer one mortgage for up to six units listed under one freehold title.
Rates for landlords purchasing or remortgaging freehold blocks start from 5.19 per cent on five-year fixed with 65 and 75 per cent loan-to-values.
The move follows the recent launch of the lender’s rapid remortgage proposition and is in addition to its existing buy-to-let product range which includes holiday lets, new builds, HMOs and portfolio landlords.
Molo announced its rapid remortgage proposition earlier this month, offering borrowers a 24-hour remortgage approval process.
However, some brokers were sceptical of the announcement and questioned the reliability of the lender given that it had to pull its offering for a time during the pandemic.
Molo co-founder Francesca Carlesi said the expansion of its buy-to-let range will give landlords even more choice when finding their next investment.
“Landlords continue to look for property investment options, including ways to save money and diversify their portfolio,” she added.
The expansion of its range follows the news last month that Molo was bought by Australian lender ColCap Financial.
The privately-owned non-bank lender bought an 80 per cent share of the business at the beginning of March this year, and followed a trend of Australian mortgage lenders entering the UK market.
Prior to this, Pepper Money, which also originated out of Sydney, expanded into the specialist UK mortgage market. It focuses on those borrowers turned away by high street lenders.
Meanwhile Bluestone entered the UK mortgage market from Australia in 2015.
jane.matthews@ft.com
