Zephyr increases procuration fees and reduces mortgage rates

Specialist buy-to-let mortgage lender, Zephyr Homeloans, has increased its procuration fees for brokers, from 0.5% to 0.7% gross.

The lender has also reduced rates on all its five-year fixed rate mortgage products by 10 basis points.

As a result, the lender is now offering a five-year fixed rate at 4.24%, available up to 75% LTV with a 7% fee.

A two-year fix has reduced to 2.39% up to 75% LTV, also with a 7% fee.

In addition, Zephyr has launched a range of limited edition mortgage products with a 5% fee, with two-year fixed rates starting from 3.04% and five-year fixes from 4.5%.

Paul Fryers, managing director at Zephyr Homeloans, said: “We are constantly striving to find better ways to provide more affordable options for landlords as well as enhancing our proposition for brokers."