The lender has introduced two-year fixed rates from 4.54% and five-year fixes from 5.1%, with a 2% product fee on standard properties up to 75% loan to value (LTV). There are also options available for houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).
Further, the £200 application fee has been removed from all products and Zephyr has introduced additional fee options on standard properties at 75% LTV.
Zephyr Homeloans has updated its lending criteria to consider first-time landlords for HMOs and MUFBs and increased the maximum loan size from £2m to £2.5m.
Zephyr Homeloans will also lend on new-build HMOs and MUFBs and has simplified its interest coverage ratio (ICR) framework so it is consistent 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 BTL market.
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“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.”
Marsden BS improves expat criteria
Marsden Building Society has enhanced its expat lending criteria for residential and BTL borrowing.
This includes raising the maximum LTV limit for flats from 60% to 75% and considering roofs that are completely flat.
The maximum storeys permitted has been increased from six to eight, while the maximum storeys for properties with a lift has gone up from four to six.
Additionally, the mutual has reduced the minimum property value from £167,000 to £150,000 for expat BTL.
Jo Cave, head of mortgages at Marsden Building Society, said: “Supporting expat borrowers is an important part of our specialist lending approach. Regularly reviewing our lending policies ensures we continue to meet the evolving needs of intermediaries and their clients.
“These updates are designed to offer greater flexibility and more tailored options, reinforcing our commitment to personalised lending solutions.”
