Lender – Moda – Complete FS

ModaMortgages

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Proc Fees

Product	Gross Fee paid by lender	Net fee paid to regulated broker	Net Fee paid to non-regulated & client referral service
Buy to Let	0.85%	0.45%	(0.225% for a referral)

A personalised application process is stripped back to the essentials, offering speed of service, saving time for everyone.

Moda are a new specialist mortgage lender making buy to let smarter, faster and simpler for brokers and landlords.

All their processes are designed to help you, and they’re 100% dedicated to the intermediary market. This starts with Moda’s willingness to lend.

Moda consistently offer quick processing, backed by a dedicated, straight-talking support team. That means Complete can always stay on top of cases and keep the broker up-to-speed too.

Competitive buy to let products for a variety of landlords including small or large portfolios, limited companies, individuals, first-time buyers and first-time landlords.

Owner Occupied

Repayment Type
Capital & Interest 5 to 25 years
Up to 2 year Capital Repayment Holiday (CRH) available
Typical Margin Range
4.55% – 5.85% subject to status
Loans > £1.5m 25bps reduction
Debt Service Cover
130% (using Adjusted EBITDA)
If CRH taken DSCR must cover the remaining amortising loan

Super Prime Borrower
Margin of 3.5% plus base rate for loans which demonstrate 2 x Debt Service Cover at a maximum of 60% LTV
LTV
Varies per property type – maximum 80% LTV

Semi & Commercial Investment

Repayment Type
Capital & Interest (5 to 25 years) or Interest Only (5 to 10 years)
Typical Margin Range
4.50% – 5.75% subject to status & LTV. Loans > £1.5m 25bps reduction

Debt Service Cover
135% (using Gross Rent)
Interest-only loans must evidence affordability on a 25 year repayment profile
LTV
Varies per property type – maximum 80% LTV

	Standard investment & Owner-occupied	Owner occupied with 2 x DSC
Standard Property Type	VP	VP
Factories	75%	80%
Food Outlets - Takeaway	70%	70%
Garages / Vehicle Showrooms	75%	75%
Industrial Units	75%	80%
Mixed Use / Multi-Let (exc Residential and Retail)	75%	85%
Offices	75%	80%
Retail Units (Lock Up)	75%	80%
Retail Units with Commercial Uppers	75%	80%
Retail Units with Residential Uppers	75%	80%
Student Accommodation	60%	80%
Warehouses	75%	80%

	Investment	Owner-occupied	Owner-occupied
Business Property Type	VP	VP	MV1
Children's Day Nurseries	75%	80%	70%
Convenience stores	75%	80%	70%
Professional Practices	75%	80%	70%
Food Outlets - Restaurant	70%	70%	65%
Guest Houses/B&Bs	70%	70%	65%
Hotels	70%	70%	65%
Leisure	70%	70%	65%
Public Houses	70%	70%	65%

ModaMortgages

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