Zephyr Homeloans has reduced rates on its 75% loan to value (LTV) five-year, fixed-rate loans.

In addition, it has introduced a 2% product fee option across its complete range.

Reduced rates for Zephyr’s 75% LTV five-year, fixed-rate mortgages start at:

• 3.39% for a standard property buy-to-let mortgage
• 3.69% for houses in multiple occupancy and multi-unit blocks

The specialist lender has also increased the maximum loan amount to £2 million on standard property buy-to-let with a 65% LTV.

Zephyr’s new 2% product fee option for standard property starts at 2.90% for a two‑year, fixed-rate loan and 3.29% for a five-year, fixed-rate loan.

For specialist properties, rates start at 3.14% for a two-year, fixed-rate loan and 3.49% for a five-year, fixed-rate loan for the 2% fee product.

Paul Fryers (pictured), managing director at Zephyr Homeloans, said: “Findings from our recent landlord survey with the DPS suggested that the opportunity to buy at a discount was the most commonly cited reason for buying investment property and we have seen an uptake in re-financing as well as more portfolios moving to limited company structures.

“We know that the speed at which mortgage financing is secured is a significant factor for intermediaries in considering lenders as well as having a wide selection of loan options that suit their customers’ needs.

“Because customer service is important and borrowers want their cases processed quickly, we post our service levels daily on our website.

“As an example of our swift service, last week an average of 98% of calls were answered within 30 seconds, and DIP referrals were completed within 24 hours, allowing intermediaries’ time to be freed up for other valuable activities.”