Zephyr and TMW cut BTL mortgage rates

Zephyr Homeloans has lowered its rates on two-year and five-year fixed rate mortgages for properties with high EPC ratings.

The specialist BTL lender is offering 4.80% on a two-year, fixed rate, standard BTL mortgage (65% LTV), with a 5% product fee, and 5.30% for five-year, fixed rate, standard BTL mortgages (65% LTV), with a 5% product fee, for properties with an A to C-rated energy performance certificate (EPC).

For properties with an EPC rating of D or E, Zephyr is offering 4.90% on its two-year, fixed rate, standard BTL mortgage products (65% LTV), with a 5% product fee, and 5.40% on its five-year, fixed rate standard BTL mortgages (65% LTV), with a 5% product fee.

The firm’s managing director, Paul Fryers, said: “With industry commentators signalling the potential end of the current cycle of base rate increases, we’re pleased to be able to reduce our product rates and provide more compelling and affordable deals for brokers to offer to their landlord customers.”

TMW has also announced cuts on its products

Meanwhile, The Mortgage Works (TMW) has announced cuts on its products for current and prospective customers, with rates as low as 3.69%. The reductions apply to its buy to let range, which includes:

• Two-year fixed rate (purchase and remortgage) at 3.69% with a 3% fee, up to 65% LTV (down by 0.50%)
• New Two-year fixed rate (purchase and remortgage) at 3.99% with a £3,995 fee, up to 75% LTV
• Two-year fixed rate (purchase and remortgage) at 5.29% with a 2% fee, up to 80% LTV (down by 1.20%)
• Five-year fixed rate (purchase and remortgage) at 3.94% with a 3% fee, up to 55% LTV (down by 0.40%).
• TMW is also introducing a new fee option of £3,995 for landlords, with attractive rates from 3.89%.

This option is available for buy to let and limited company, for both new and existing customers.

Joe Avarne, the senior manager of buy to let mortgages at TMW, said: “With rates starting from 3.69% these cuts will see TMW offering some of the lowest rates in the market and is our lowest headline rate offering since May 2023.

“These changes demonstrate our continued support to landlords and the sector.”

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