Beneficial Network adds Molo Finance to lender panel

08 April 2024

Mortgage and protection network, Beneficial, has added digital lender Molo Finance to its lender panel.

The move means Beneficial’s members can now take advantage of Molo Finance’s extensive range of Buy-to-Let (BTL) products.

Beneficial Network charges a flat monthly fee and offers 100% Procuration fees and commissions, so the money advisers earn, they keep. They provide a 100% file checking process, plus offer over 90+ lenders for residential and commercial mortgages as well as providers who offer protection, general insurance and equity release.

Molo Finance is the UK’s first fully digital mortgage lender, catering to both experienced and first-time landlords residing not only in the UK but also non-residents based overseas. It lends on various property types, including new builds, holiday lets, houses in multiple occupation, and multi-unit freehold blocks.

Mat Rees, Chief Executive Officer at Beneficial Network, says: “Molo Finance is an exciting addition to our panel. Its innovative use of technology to fully underwrite mortgages online has the potential to ensure a quick and seamless application process for our Appointed Representatives (ARs) when placing BTL cases.

“At Beneficial Network, we are constantly looking for ways to enhance and develop the service we provide to our ARs, and we are confident that our members will be impressed by Molo’s fintech-driven approach to mortgages.”

Speaking about the partnership, Matt Kimber, Chief Executive Officer at Molo Finance, says: “We are delighted to be partnering with Beneficial Network. We will now be offering our digital mortgage solutions to their independent advisors, simplifying the BTL client journey and working with the network to provide further innovation to the advisor community.”