Frequently Asked Questions
In the below sections you will find the answers to our most frequently asked questions. If you still haven’t found what you are looking for contact us and one of our team will be happy to help you out.
Do you offer payment holidays?
Please direct your clients to our Coronavirus Help & Support page if they are experiencing difficulty paying their mortgage as a result of Covid19. It contains all the information your clients require regarding payment holidays.
Where should brokers direct customers to - is there a dedicated helpline?
We understand that this continues to be a worrying and uncertain time and we want to support your customers as much as possible. Our customer contact number remains 0370 707 1896 (Mon – Fri 9am to 5pm).
We are currently dealing with a higher number of calls from customers than normal. So that we can support those in the most vulnerable situations please encourage customers to only call if their enquiry is urgent. We are doing our best to help customers as quickly as possible. If they do need to speak to us, please remember that our call wait times are likely to be longer than normal.
How will payment holidays be reported to the credit reference agencies?
Any payment holiday will not negatively affect your clients’ credit status with credit reference agencies and will not count as mortgage arrears.
If your client’s mortgage account is currently up to date, then their credit file will continue to reflect this status. If they are currently in arrears, then their credit file will continue to reflect the same arrears status during the payment holiday as immediately prior to it. If your client makes any payments during the payment holiday and reduces the arrears, these will be reflected.
Please note - whilst we are working on the basis of industry and government guidance to ensure that payment holidays will not adversely impact your clients’ credit file, we cannot guarantee how other lenders will interpret the payment holiday when assessing any future lending decisions. Lenders may take into account other information when making future lending decisions, including, for example, information provided by you as an applicant and bank account information.
Are full valuations still going ahead in Lockdown 3:0?
Yes, we’re still able to instruct full physical property valuations through our panel surveyors.
Alongside any new instructions, we will be working through our pipeline as quickly as possible and have contacted brokers with applications in progress.
In line with the latest government guidelines, strict protocols will be followed at all times during the property inspection process to protect the health and safety of the occupier(s) and the surveyor.
Please note - if a Valuer visits a property after a pre-valuation risk assessment has been carried out and the occupier does not comply with the pre-agreed protocol, the valuation will be charged in full, even if this could not be carried out.
Are Zephyr Homeloans prioritising the underwriting and processing of purchase applications over remortgage ones?
We are processing all applications in the order they are received and although we are currently working to our usual service levels there may be short delays as we navigate through changing procedures, while ensuring we remain compliant and keep our colleagues and customers safe.
What will happen to pipeline applications?
Pipeline applications continue to be underwritten in line with criteria and lending policy. We continue to remain open for business as usual at this time.
Where occupants of a BTL are in self isolation/lockdown, will Zephyr Homeloans allow the purchase to complete and current occupants to remain until lockdown/self-isolation is finalised?
We would not expect completion to take place until possession could be obtained.
Will Zephyr Homeloans offer product switches for those customers on payment holidays?
We do not currently offer a product switch service.
How can a Panel Broker reactivate a locked account?
Contact our Broker Support Team, please see our contact us page for details.
After initially registering, when can I start placing business?
Once you have completed your registration and we have carried out our internal checks you will be notified and will be able to start placing business with us immediately. We aim to do this within 48 hours.
I am not linked to a firm – can I still place business with you?
Yes, applications can be submitted via one of our preferred packaging routes, please see our full list of approved packaging partners here.
Do you have a direct channel?
No, we only offer our products through intermediaries.
Submission of Mortgage applications
All Broker generated applications must be submitted via the Zephyr Homeloans Portal. Following submission, the Broker/Packager will be able to view the progress of all of their submitted cases online via the Portal.
If the case has been submitted through a Packager, the Broker will not be able to view the progress of cases submitted and will need to contact the Packager for updates.
How do I get Application Queries and Case Updates?
Application information will be available on the Zephyr Homeloans Portal Case Summary screen or you can find more information on our Submitting Business page. However, in respect of general non case specific queries, and in certain circumstances where an update cannot be achieved via the portal, information may instead be obtained over the telephone. Please call 0370 707 1894 Monday to Friday, 9am to 5pm.
Who do I speak to if I have a complaint/I’m not happy with the service I’m getting?
If the complaint is in relation to a customer enquiry, DIP, application or loan then the Broker/Packager should contact one of our New Lending Consultants on 0370 707 1894 Monday to Friday, 9am to 5pm, making sure that they provide full details of the case the complaint refers to. The consultant taking the call will own the complaint and log it in line with our internal complaints process, a copy of which is available on request.
Who does Zephyr Homeloans valuations?
A Zephyr Homeloans Surveyor Panel is managed by Connells; they instruct firms on our behalf.
How do I get a solicitor on the Zephyr Homeloans panel?
You will need to contact your BDM.
How long is the mortgage offer valid for?
Offers are valid for 90 days for standard purchases, re-mortgages and new build properties.
How long is a DIP valid for?
A Decision in Principle is valid for 30 days, subject to no material changes. Please be aware that a product is not secured at the DIP stage.
Under what circumstances (if any) would a refund of valuation /administration fees to a customer be available?
Refunds may be available where we are notified prior to a valuation being completed.
If the property was down valued would this prompt a refer/decline decision?
Down valuations will be referred back to the Underwriter for review.
Is there an Appeals Process for valuation etc.?
Zephyr Homeloans will only consider a valuation appeal in exceptional circumstances where compelling evidence exists to contradict the valuation that has been provided.
Should an offer be extended beyond 90 days from initial offer, if a re-valuation is required, who will pay the additional valuation fee if this is required?
The customer will be required to pay this additional fee. Details of the fee amount will be included on the fees page.
I am no longer on the Broker/Packager’s panel, what will happen to my pipeline cases?
Any pipeline cases must still be processed through to completion under the Principal Firm’s FCA reference.
Do you leave a hard or soft footprint at the credit bureau?
This depends on the stage of the application process; if the application is at the DIP or quotation stage a soft footprint is left. When a full mortgage application is submitted however, a hard footprint is left at the Credit Bureau stage.
Who do you use for your credit search?
Zephyr Homeloans uses Equifax as part of their credit search process.