Dynamo for Intermediaries has become the first mortgage club to launch with digital lender Molo Finance.
The launch is limited initially to a select group of mortgage club members with a wider launch planned in the near future to all directly authorised members of Dynamo for Intermediaries.
Molo is the UK’s first digital mortgage lender and has the ability to offer a Decision in Principle (DiP) in minutes with full application reviews processed within 24 hours.
Ying Tan, founder and chief executive of Dynamo for Intermediaries, said: “Molo has really made a mark in the specialist market this year and is definitely a lender to watch.
“I’m thrilled that we are able to start rolling out exclusive access to our mortgage club members and anticipate all of our DA members having access early next year.
“As a technologically innovative mortgage club, we appreciate and fully support Molo’s digital vision and very much look forward to working together to promote a more streamlined application process.”
Francesca Carlesi, co-founder and chief executive at Molo, added: “It is truly a pleasure to partner with Dynamo, at this historic moment in which speed of decisioning and quality of service are so relevant for our customers.
“Dynamo has a proven track record of being a very forward-looking and dynamic player in the mortgage market, with a relentless focus to drive best in class customer service and sharing our vision for a digital future of mortgages.
“I look forward to a great collaboration that will allow all of Dynamo for Intermediaries’ members to benefit from a faster, easier and digitally-led mortgage process in the near future.”
This partnership comes as Molo is now accepting let-to-buy mortgages to provide its customers with further flexibility when pursuing buy-to-let.
By enabling homeowners to convert residential homes into a property they can let, let-to-buy customers can simultaneously purchase a new residential property and release equity into their existing home.