The new rates take effect on 15 August.
Self-certification fixed rates are being reduced by 0.10%.
The new rates are:
- Two-year flexible fixed at 4.99% (previously 5.09%). Remortgage offer not available on this product
- Two-year flexible fixed remortgage only at 5.09% (previously 5.19%). With remortgage offer
- Three-year flexible fixed at 5.19% (previously 5.29%)
- Five-year flexible fixed at 5.29% (previously 5.39%)
Buy-to-let fixed rates are being reduced by up to 0.30%, and a new three-year fixed rate product is also being introduced. The new rates bring buy-to-let fixed rates into line with self-certification fixed rates.
The new rates are:
- Two-year flexible fixed at 5.09% (previously 5.39%)
- Three-year flexible fixed at 5.19% (new product)
- Five year flexible fixed at 5.29% (previously 5.39%)
“Rates have been falling across the market over the past couple of months and this latest reduction puts us in a particularly competitive position when compared to other specialists in the self-certification and buy-to-let sectors,” said Keith Astill, managing director at UCB Home Loans.
“Rates are likely to remain extremely advantageous for borrowers over the coming months, as lenders compete for business in a relatively slow market,” he said. “At UCB Home Loans we have the added advantage that our arrangement fees have remained unchanged, whilst other lenders have increased theirs substantially in order to compensate for interest rate reductions.”
Keith Astill added: “The introduction of the new buy-to-let 3 year fixed rate product has come about as a direct result of requests from brokers, and it means that we now have a well-rounded suite of buy-to-let mortgages directed at the rental sector.”
“The alignment of our buy-to-let fixed rates with our self-certification fixed rates simplifies the whole product range and gives us an extremely attractive overall package” he said.
Following the recent reduction in the Bank of England base rate, UCB Home Loans will reduce its variable rates by 0.25% with effect from 1 September 2005.
The new variable rates will be as follows:
Self-Certification Variable Rate 7.39%
Flexible Variable Rate 6.79%
Investment Flexible Variable Rate 6.79%
