The lender will now:
* Consider Houses of Multiple Occupancy (HMOs) on a single assured shorthold tenancy agreement, providing they are single dwellings, let to four tenants or less.
* Allow lettings to companies, housing associations and local authorities.
Keith Astill, managing director at UCB Home Loans, said: “We’ve worked hard to act on the feedback we receive from our intermediaries, in order to enhance our criteria and remove some of the barriers that may prevent them doing business with us.
“We’re now one of the only lenders in the market to accept housing association, local authority and corporate lettings. This should help us extend our reach in the buy-to-let market, whilst further confirming our commitment to this sector.”
At the same time, UCB Home Loans is making the following changes to its mortgage products:
* Withdrawal of its ‘limited offer’ self-certification three-year tracker at 5.09% and launch of a replacement product, priced at 5.64% (Bank Base Rate plus 0.64%).
* Introduction of a £499 reservation fee on its buy-to-let two-year Early Repayment Charge (ERC) free tracker, priced at 6.29% (Bank Base Rate plus 1.29%).
* Increasing variable rate products by 0.25% in line with the increase in the Bank of England Base Rate (rates shown above take account of this increase).
Fixed rates remain the same, except for APRs which may change due to the variable rate increase.
