Buy to let mortgage lender Molo has announced an open banking technology partnership with Experian.
Molo is the UK’s first fully digital mortgage lender has streamlined the traditionally painful mortgage process, granting near-instant decisions, along with fair, secure, direct-to-customer lending. No paper, no appointments, no middlemen and no months of waiting for a decision – just a fast, simple and fully online process.
Since launching to market in 2018 in the buy-to-let sector, Molo has surpassed more than £250 million in applications, demonstrating a clear market demand for a faster, simpler, more transparent mortgage product.
Francesa Carlesi, CEO at Molo, said “We’re thrilled tobe collaborating with Experian. It’s another great step forward in providing an ever better, faster, more personalised service for our customers, and we expect that this technology, in conjunction with our own, will lead to far greater personalisation in the not-too-distant future.”
Lisa Fretwell, Managing Director of Data Services at Experian, said “The buy-to-let mortgage process is stressful enough without having the added pressure of gathering crucial documentation to help access affordability. It’s a hassle for the broker, lender and, most importantly, the homebuyer.”
“Experian’s Open Banking solution helps to ease this pain, providing a seamless, digital alternative to the traditional paper-based model, helping enable a reduction in decision times and improved customer outcomes. We are delighted to be working alongside Molo to help move the mortgage process into the digital age.”