The lender has made the changes in order to improve its 'rental cover only' calculation, which is now 110 per cent of Bank Base Rate + 0.5 per cent.
Effective immediately, fixed rate products now start from 5.98 per cent (two and three-year fixed rates) and 5.95 per cent (five-year fixed rates).
Andy McQueen, divisional director of Nationwide Specialist Lending, said: “Following on from the improvements to the rental cover calculation which were made last month, UCB Home Loans is now offering even better rates on its buy to let mortgages.
"This makes the rental cover option a particularly good choice for property investors looking to expand their portfolios, with the three and five-year products being extremely competitive.”
Changes are as follows:
- B2L 2 Year Fixed Rate Rental Cover at 6.18% (£695 arrangement fee, max 75% LTV)
- B2L 2 Year Fixed Rate Rental Cover at 6.29% (£695 arrangement fee, max 85% LTV)
- B2L 2 Year Fixed Rate Rental Cover at 5.98% (£1,995 arrangement fee, max 85% LTV)
- B2L 3 Year Fixed Rate Rental Cover at 6.09% (£695 arrangement fee, max 75% LTV)
- B2L 3 Year Fixed Rate Rental Cover at 6.18% (£695 arrangement fee, max 85% LTV)
- B2L 3 Year Fixed Rate Rental Cover at 5.98% (£1,995 arrangement fee, max 85% LTV)
- B2L 5 Year Fixed Rate Rental Cover at 5.99% (£695 arrangement fee, max 75% LTV)
- B2L 5 Year Fixed Rate Rental Cover at 6.04% (£695 arrangement fee, max 85% LTV)
- B2L 5 Year Fixed Rate Rental Cover at 5.95% (£1,995 arrangement fee, max 85% LTV)
- B2L 10 Year remains unchanged at 5.99%
