The 'Remortgage Solution', which is designed to speed up the remortgage process, whilst reducing costs for the borrower, includes:
Free valuation.
No processing fee.
Free legal fees.
Based on the remortgage of a £200,000 property, this package would save the borrower up to £509 on standard fees. Interest rates are already at record lows, and UCB will reduce its rates by 0.2 per cent for fixed and 0.5 per cent on variable rate mortgages on December 3.
The new deal, which is being offered on remortgages of up to 75 per cent loan to value (LTV), is aimed primarily at those with a higher level of equity in their home. Borrowers wishing to remortgage above 75 per cent LTV will, however, still have access to the existing remortgage facilities offered by UCB Home Loans, which cover loans up to 85 per cent LTV and include additional conditions.
Commenting on the launch, UCB Home Loans' managing director, Charles Reed, said: "In a market where remortgage activity is on the increase, offers like this will enable intermediaries to help a wider range of clients by providing a competitive self-certification mortgage, with no legal or processing fees.
"UCB Home Loans is an award winning lender and we recognise that we must build on our successes to remain a leader in our market. We are confident that this remortgage package will soon become part of every intermediary’s remortgage tool kit."
