Zephyr enhances buy-to-let criteria and launches new special edition rates

Specialist buy-to-let mortgage lender, Zephyr Homeloans, has launched new special edition fixed rate products and introduced a series of enhancements to its buy-to-let criteria, broadening the range of cases it can support.

The lender has introduced new two-year fixed rates from 4.54% and five-year fixed rates from 5.10%, with a 2% product fee on standard properties up to 75% LTV. Options are also available for HMOs and multi-unit freehold blocks (MUFBs).

As part of the changes, Zephyr has removed its £200 application fee across all products, and introduced additional product fee options on standard properties at 75% LTV, giving brokers greater flexibility when structuring cases. 

Alongside the new products, Zephyr has expanded its lending criteria. The lender will now consider first-time landlords for HMOs and MUFBs (subject to criteria), and has increased its maximum loan size to £2.5m, up from £2m.

Zephyr will also now lend on new build HMOs and MUFBs and has simplified its interest cover ratio (ICR) framework, with consistent ICRs applied across all property types.

Paul Fryers, managing director at Zephyr Homeloans, said: “We’re committed to significantly strengthening our specialist lending proposition for intermediaries and their landlord clients in an increasingly complex buy-to-let market.

“Saying goodbye to application fees and introducing these enhancements mean Zephyr can support more landlords, lend on a wider range of properties, and offer more options for our broker partners.”