Dedicated buy to let lender Zephyr Homeloansis reducing rates on its two-year mortgage products by 15 basis points (bps) and by 10 bps on its five-year mortgage products.
The changes have resulted in the following for two-year, fixed mortgage products:
• 2.54% on a two-year, fixed rate, standard mortgage up to 65% LTV, with a 7% fee
• 2.54% on a two-year, fixed rate mortgage for new builds and flats above commercial properties up to 65% LTV, with a 7% fee
• 2.69% on a two-year, fixed rate mortgage for HMOs (houses of multiple occupancy) and MUFBs (multi-unit freehold blocks) up to 65% LTV, with a 7% fee
The changes have also resulted in the following for five-year fixed mortgage products:
• 4.39% on a five-year, fixed rate, standard mortgage up to 65% LTV, with a 7% fee
• 4.39% % on a five-year, fixed rate mortgage for new builds and flats above commercial properties up to 65% LTV, with a 7% fee
• 4.49% on a five -year, fixed rate mortgage for HMOs and MUFBs up to 65% LTV, with a 7% fee
A spokesperson says: “Following our recent repricing, we’re pleased to be able to reduce rates again to help our brokers to better support their landlord customers.”
Meanwhile Paragon Bank has reduced rates across its 75% loan-to-value (LTV) 2-year fixed-rate buy-to-let mortgage range by 0.11%, with rates now starting at 4.24%.
The new 2-year fixed products come with either a nil or 3% product fee. Rates start at 4.24% for the purchase or remortgage of single self-contained (SSC) properties with EPC ratings of A to C, increasing 0.05% for homes rated D and E.
Loans are also available for HMO loans and multi-unit blocks (MUBs). These are priced at 4.59% with a 3% product fee or 6.09% with no product fee.
All products include free mortgage valuations. SSC mortgages have no application fee, while HMO and MUB options include a £299 application fee.
Interest coverage ratios are at the initial rate plus 2%, and the mortgages are for individual landlords or those working through company structures in England, Scotland and Wales.
This article is taken from Landlord Today