Buy-to-let lender, Zephyr Homeloans, has announced a significant reduction to a range of its interest coverage ratios (ICR).
For houses in multiple occupation, multi-unit freehold blocks and flats above a commercial property, Zephyr revealed it has reduced its ICR from 155% down to 135% for limited companies, and to 150% for individuals.
The lender announced it has also reduced its ICRs for new-build properties.
Zephyr managing director, Paul Fryers, commented: “Zephyr’s new ICRs help landlords and property investors to borrow more than they could do previously – and benefit our intermediary partners by simplifying our criteria.
“The change further cements our position as one of the more competitive lenders available to UK landlords and demonstrates our commitment to the buy-to-let market.”
Latest News
Is 2025 the year of the remortgage?
An estimated 1.8 million fixed rate mortgage deals are due to expire in 2025, 400,000 more than in 2024. This surge in remortgaging presents a critical opportunity for mortgage brokers to offer essential advice and financial support to homeowners across the UK, ensuring they transition smoothly to new deals amid stabilising interest rates and heightened affordability checks.
The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.
The UK housing market in 2024
The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories