Molo Finance has launched a new service to help investors get an offer on their buy-to-let (BTL) mortgage within 24 hours.

The digital mortgage lender’s “Rapid Remortgage” service is powered by its automated decision engine.

Molo suggested the remortgage process has become “unnecessarily lengthy” and, following the string of interest rate rises by the Bank of England that have seen the base rate climb to 4.25%, has decided to streamline its approvals process for customers looking to remortgage and lock in lower rates as soon as possible.

By utilising its automated property and rental valuations, along with an automated decision-making system, the digital lender hopes to enhance remortgage applications by speeding up the time to offer and eliminating manual processing.

An offer, if eligible, will be issued within 24 hours from applying, subject to receiving all the relevant information and qualifying for an automated property assessment. Molo suggested that all offers will give customers certainty on their remortgage well in advance of the end of their current fixed-term to avoid potentially expensive standard variable rates.

“The customer experience is always at the forefront of everything we do,” commented CEO and co-founder at Molo, Francesca Carlesi.

“Molo’s automation engine streamlines the remortgaging process and offers approvals in just 24 hours, at competitive rates to help landlords save time and money. It means they can achieve their goals sooner, even in the current climate.”

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