Zephyr Homeloans lowers buy-to-let ICRs

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Zephyr Homeloans, the specialist buy-to-let lender owned by Computershare, has reduced its income coverage ratios.

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

Zephyr has also cut the ICR for new build properties to the same level as their non-new build equivalents.

Paul Fryers, 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.”