UCB Home Loans cuts mortgage rates

15 August 2005
UCB Home Loans has become the latest mortgage lender to reduce its fixed interest rates in recent weeks.

The specialist lender of Nationwide has lowered self-certification rates by ten per cent and buy-to-let fixed rates by up to 30 per cent, representing the fourth cut in past months.

As a result of this move, the interest rate of a self-certification two-year flexible mortgage is fixed at 4.99 per cent, down from 5.09 per cent.

Explaining the reasons behind the cut in fixed rates, Keith Astill, managing director at UCB Home Loans, said: "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.

"Rates are likely to remain extremely advantageous for borrowers over the coming months, as lenders compete for business in a relatively slow market."

UCB has also introduced a new buy-to-let three-year fixed rate mortgage.

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