At the same time, UCBHL has reviewed its arrangement fees and is increasing them in order to re-align with the rest of the market.
The self-certification arrangement fee is increasing from £330 to £495, whilst the buy-to-let arrangement fee is increasing from £495 to £595.
UCB Home Loans managing director, Keith Astill, said: ‘The removal of the reservation fee comes as a direct result of broker feedback and should help to speed up application processing times, whilst also partly offsetting the increase to our arrangement fees.
"Our arrangement fees have always been extremely competitive and, whilst the increases re-align us with the rest of the market, we are maintaining our competitive position, remaining better or equal to our major competitors."
He added: "This is the first time we have increased the fees on our buy-to-let range since we entered the market and it’s over two years since the last change to the self-cert fees. UCB Home Loans’ proposition is getting stronger and stronger and we’re looking to build on this with some exciting developments planned over the coming year."
