Our Products & Criteria

Latest updates:

• On 5 December, we  reduced all our 5 Year Fixed Rates by 10bps (Standard Range), launched new Limited Edition 2 & 5 Year Fixed Rates, and increased our procuration fee to 0.70% gross on all new originations submitted via your club or network route.
• On 26 November, all Large HMO & MUFB Fixed Rates reduced by 25bps.

See our Product Range for details of our rates.
See our All About Zephyr document for a summary of our criteria.
See our Underwriting Guide for full details of our criteria.
Use our Illustrative Calculator to see if your case fits.

For any questions about our products and criteria, please contact our expert team. We’d love to chat and help you.

Products & criteria overview

We are a specialist BTL lender. We lend in England and Wales to individual and limited company (SPV) applicants on a range of property types, including standard, HMOs up to 12 bedrooms, MUFBs up to 12 units, flats above commercial and new builds.

Large portfolios are a particular speciality, with no upper limit on the total portfolio loan amount.

We offer a choice of 2 and 5 Year Fixed Rates and a Lifetime Tracker (no ERCs), with fee or no fee options. Rates from just 2.34%.

Summary criteria

• Applicants: Individual landlords and limited companies (SPVs).
• Properties: Standard, HMOs, MUFBs, flats above commercial (FACs) and new builds.
• Flats: No restriction on the number of floors in a block. Ex-local authority and deck access.
• Minimum loan: £75k on standard properties, FACs and new builds. £100k for Small HMOs & MUFBs up to 6 bedrooms/units. £120k on Large HMOs & MUFBs with 7-12 bedrooms/units.
• Maximum loan: Standard properties – £2m, HMOs & MUFBs – £1.5m, flats above commercial & new builds – £750k.
• LTV: Up to 80% on standard properties and Small HMOs/MUFBs (up to 6 bedrooms/units), and up to 75% on new builds, FACs and Large HMOs/MUFBs (7-12 bedrooms/units).
• 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.
• To secure a rate a case must proceed to offer within 60 calendar days of an application*
• Product Transfers available to clients when their Fixed Rate matures on a mortgage which completed from 1st October 2024 onwards. All Product Transfers will be subject to availability, criteria and underwriting applicable at the time.

* If the case doesn’t reach offer stage within these timescales but the application is still progressing, a replacement product can be chosen from the range available at that time. However, if the application is not progressing, we reserve the right to close the case and a new application would need to be submitted.

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. This page was last updated on 26th November 2025.

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.