Zephyr Homeloans reduces a range of its ICRs

Jessica Nangle

February 11, 2020

Zephyr Homeloans has reduced a range of its interest coverage ratios (ICR).

For houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFB) and flats above commercial property (FAC), Zephyr has reduced its ICR from 155% down to 135% for limited companies and to 150% for individuals.

Zephyr has also reduced its ICRs for new build properties.

Paul Fryers (pictured), managing director at Zephyr Homeloans, said: “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.”

As an example of the changes, Zephyr has reduced the ICR for a new-build flat (not FAC) for limited company borrowers from 155% to 125%.


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