Products & Criteria

We offer loans up to £2m (on Standard properties at 65% LTV) with 2, 5 & 7 year fixed rates up to 80% LTV on Standard properties and to 75% LTV on Specialist properties, with no upfront application fees.

All our products are available to Individual or Limited Company (SPV) applicants for purchases or remortgages, either as a single mortgage or on a portfolio basis.

Our products are for buy-to-let purposes only, excluding consumer buy-to-let. We only lend on properties in England and Wales.

  • See our Product Range, for details of our current deals. 
  • Reduced rates for properties with EPC ratings of A-C. 
  • See our key lending criteria in our All About Zephyr document.
  • See our full lending criteria in our Underwriting Guide. 

For any questions about our products and criteria please contact our expert team.

Our key product details and lending criteria are summarised below. 

Summary criteria

  • Loan Terms from 5 years (minimum) to 35 Years (maximum).
  • Unlimited background portfolio – with background portfolio stress testing at 100% of mortgage payments.
  • No minimum income for standard applications, £25K gross for professional landlords.
  • Directors must hold at least 60% of company shares for Limited Company applications.
  • Minor adverse considered.
  • Landlords with DSS tenants accepted.
  • Applicants must have UK Permanent Right to Reside.
  • Maximum age 95 years at the end of the mortgage term.

Our Standard range of products are available for properties (houses or flats) that are not of a Specialist nature.

  • Max Loan sizes of £2m to 65% LTV, £1.5m to 70% LTV, £1m to 75% LTV and £750,000 up to 80% LTV.
  • Minimum Valuation - £75,000 (£100,000 on our 80% LTV products)
  • Minimum Loan Amount - £50,000
  • Personal Income Backed and Portfolio Income Backed Top Slicing may be utilised to support a Standard individual application – subject to criteria. See our Top Slicing guide for more info.
  • New build Standard properties can be considered. However, we have bespoke products available for them.

You can find an energy certificate (EPC) for a property in England, Wales or Northern Ireland on the gov.uk website.

*Maximum LTV for portfolios with aggregate loans of more than £2,000,000 is 70%. We may require proof of the source of deposits.
^ Minimum valuation of £100,000. Not available for first time landlords or ex Local Authority/MOD properties.
There are a number of fees that apply to our mortgage products during the application process and over the term of the loan. You can find more information in the fees section.

We have a range of  products available for New Build and Flats Above Commercial properties.

  • FAC & New Build max Loan size of £750k to 75% LTV.
  • FAC & New Build minimum valuation £75,000 and minimum Loan Amount – £50,000.

You can find an energy certificate (EPC) for a property in England, Wales or Northern Ireland on the gov.uk website.

Note: New Build: A new build property is one that has been recently constructed or converted and is being sold for the first time as completed and ready for occupation or, has been previously sold for on this basis within the last twelve months. Properties being tenanted for the first time following a change of use are also classed as New Build.

Not available for HMO and MUFB*Maximum LTV for portfolios with aggregate loans of more than £2,000,000 is 70%. We may require proof of the source of deposits.

There are a number of fees that apply to our mortgage products during the application process and over the term of the loan. You can find more information in the fees section.

We have a range of products available on HMOs (maximum of 6 bedrooms) and MUFBs (maximum of 6 units in any one development). We can consider Ex-Local Authority and Deck Access HMO and MUFB properties - but not FACs and New Builds.

  • HMO & MUFB max Loan size of £1.5m to 70% LTV and £1m to 75% LTV.
  • HMO & MUFB minimum valuation £100,000 and minimum Loan Amount £50,000.

You can find an energy certificate (EPC) for a property in England, Wales or Northern Ireland on the gov.uk website.

New Build & FAC not available for HMO & MUFB
*Maximum LTV for portfolios with aggregate loans of more than £2,000,000 is 70%. We may require proof of the source of deposits.
There are a number of fees that apply to our mortgage products during the application process and over the term of the loan. You can find more information in the fees section.

 

Early Repayment Charges (ERCs)

Up to 10% of the outstanding loan amount can be repaid in any 12 month period without incurring an ERC.

Interest Coverage Ratios (ICRs)

Please note – each application is considered on its merits and we do not guarantee acceptance of all cases which meet our headline criteria. We reserve the right to withdraw products without notice at any time. All mortgage intermediaries are required to comply with our Intermediary Terms of Business. The information on this page is correct as of 20 May 2022.

Consumer Buy To Let: Zephyr Homeloans is unable to lend on a Consumer Buy to Let basis. Where it is identified that an application may be subject to Consumer Buy to Let regulatory requirements, the application will be declined. For example, in the scenario where the applicant or family member has previously resided in the property, and the applicant does not have at least one other BTL property, Zephyr will always view this as a Consumer loan regardless of the time that has elapsed since the period of residence.