MFS and Zephyr Homeloans reduce rates – round-up

Both MFS and Zephyr Homeloans have announced rate cuts.

Market Financial Solutions

The cuts applies to its fixed and variable rates. 

Rates begin from 0.49 per cent at 50 per cent loan to value (LTV) for a residential investment or single buy-to-let property, and 0.55 per cent for a permitted development bridge, light development, semi-commercial or commercial product. 

The lender has also launched products that allow borrowers to select their fee depending on their requirements, and to pick between a two, four or six per cent fee across all loan tiers. 

Borrowers can also increase their loan size by using deferred interest, rolled-up interest and top-slicing.  

Paresh Raja, CEO of MFS, said: “We are kickstarting 2024 with new and improved rates, supporting brokers and their clients as they embark on their property investment plans for the year ahead. 

“Reducing rates is just part of the picture, however. Flexibility remains equally important – we will continue to deploy various methods to enable borrowers to get their optimum loan sizes and repayment structures.”  

He added: “At MFS, we’re confident that the property market will continue to demonstrate great resilience and experience significant demand in 2024, and we’ll continue to strive to deliver the very best products and service to brokers seeking out bridging loans and BTL mortgages.” 

Zephyr Homeloans 

Zephyr Homeloans has cut all five-year fixed rates by 0.65 per cent, and all two-year fixed rates by 0.55 per cent. 

This change applies from today and rates start from 4.8 per cent for a two-year fix at 65 per cent LTV with a five per cent fee against a property with an EPC rating from A to C. For a five-year fix, the rate is 5.3 per cent. 

For properties with an EPC rating of D or lower, rates begin from 4.9 per cent for a two-year fix at 65 per cent LTV or 5.4 per cent for a five-year fix.