The product will be priced at Bank of England base rate plus 1.29%, giving a current rate of 5.79%.
The lender will also be reducing the tracking increment on its Buy to Let 2-Year ERC-Free Flexible Tracker to 1.29%, from its previous position of base plus 1.64%, giving a pay rate of 5.79%.
“The move is designed to offer a greater degree of choice to borrowers, and to provide brokers with a wider range of products from which to select options suitable for their clients,” said UCB Home Loans managing director, Keith Astill.
“It is also a reflection of the greater degree of simplicity which we have been injecting into the product range,” he said. “We now have competitive 2-Year ERC-Free Flexible Trackers on both the self-certification and buy-to-let ranges, with matching rates of interest of 5.79%.”
The current Self-Certification Variable Rate product, will be removed on 31 October.
