Paradigm Mortgage Services has added buy-to-let mortgage lender, Zephyr Homeloans, to its panel.
Paradigm member firms will be able to access Zephyr’s range of both standard and specialist buy-to-let products focusing on meeting the mortgage needs of professional property investors.
These products are available for both individuals and limited companies, and on Zephyr’s latest range of Standard products it has maximum loan limits of £1m to 70% LTV and £750k to 75% LTV. Zephyr’s Specialist products are available to 70% LTV with a maximum loan size of £750k.
Zephyr lends on HMOs up to six bedrooms and multi-unit freehold blocks of up to six units – the minimum property value for both is £100k.
Other notable criteria include:
- No minimum income for Standard applications; £25k gross for professional landlords. Income top-ups are acceptable.
- Acceptance of flats above/adjacent to commercial properties; ex-local authority and deck access.
- Landlord applicants with DSS tenants are accepted as well as those with a UK permanent Right to Reside.
- Minimum of one full year’s trading required for self-employed and contractors.
- Maximum age of 95 years for applicant at the completion of the mortgage.
- Client can have an unlimited background portfolio; minor adverse credit also considered.
Member firms who are not already registered with Zephyr Homeloans can now do so, or if they are registered, can now change their payment route to Paradigm.
John Coffield, head of mortgages at Paradigm Mortgage Services, said: “At a time when it’s so vitally important that we support as broad a range of lenders as possible within the market, we are very pleased to be bringing Zephyr Homeloans on to our panel.
“There has been plenty to suggest that landlords are seeking to make the most of any post-lockdown private rental sector opportunities to both add to portfolios or refinance, and Zephyr’s product offering will provide further choice for advisers and their clients.
“As a lender it is also willing to look beyond standard landlord norms in terms of profession, income, tenants, etc and we certainly believe that clients who fit this bill are likely to find a strong offering and service from Zephyr.”
Paul Fryers (pictured), managing director at Zephyr Homeloans, added: “We’re delighted to join Paradigm Mortgage Services’ lender panel and look forward to working with its members to help customers achieve their buy-to-let ambitions.
“Many landlords are currently seeking to expand their buy-to-let portfolio or restructure their existing holdings, and Zephyr is well placed to assist through offering flexible choices with an expanded range of fixed-rate buy-to-let mortgages with two-year, five-year and seven-year options.”