Zephyr Homeloans completes £13m complex portfolio case

The case saw the landlord raise the funds in order to take the properties ‒ which are located in the South East of England ‒ out of a limited partnership, and instead incorporate them into a limited company.

Zephyr worked with broker Mortgages for Business in order to put bespoke terms together for the deal, which exceeded its usual maximum lending limits. It said that offers were made on each property within 18 days of the application, with all properties completing on the same day. The process from application to completion took less than three months.

The loan was provided at 65 per cent loan to value for five years.

“Appetite and drive”

Gavin Richardson (pictured), managing director of Mortgages for Business, said that it took the case to Zephyr because it believed the lender had the “appetite and drive” to fund the whole portfolio, as well as complete within the strict timescales.

He added: “Having access to key decision-makers inside Zephyr Homeloans gave us the confidence that, along with our expertise and experience in these types of transactions, a refinancing deal of this size would go smoothly and according to the client’s timeframe and specifications.”

Paul Fryers, managing director of Zephyr Homeloans, said the deal showed the lender can handle complex applications and difficult deadlines.

He added: “Our high levels of commitment to the project included visiting the broker and landlord customer in person, providing a single underwriter for the cases, as well as twice-daily calls between all parties, including the conveyancer.”

“We’re working increasingly closely with brokers such as Mortgages for Business, who have an acute understanding of BTL portfolio landlords, in order to support customers wishing to arrange complex deals.”