Buy to let fixed rate mortgages cut at UCB Home Loans

UCB Home Loans has reduced rates across its range of rental cover buy to let products. The changes, which make a number of the products market-leaders, have been made following the decision by the specialist lender to improve its “rental cover only” calculation to 110% of Bank Base Rate + 0.5%.
The product changes are effective from Friday 23 November 2007.

Fixed rate products now start from 5.98% (two and three year fixed rate) and 5.95% (five year fixed rate).

Commenting on the changes, Andy McQueen, divisional director of Nationwide Specialist Lending, said: “Following on from the improvements to the rental cover calculation which were made last month, UCB Home Loans is now offering even better rates on its buy to let mortgages. This makes the rental cover option a particularly good choice for property investors looking to expand their portfolios, with the three and five-year products being extremely competitive.”

Buy to let product changes:

B2L 2 Year Fixed Rate Rental Cover at 6.18% (£695 arrangement fee, max 75% LTV)
B2L 2 Year Fixed Rate Rental Cover at 6.29% (£695 arrangement fee, max 85% LTV)
B2L 2 Year Fixed Rate Rental Cover at 5.98% (£1,995 arrangement fee, max 85% LTV)
B2L 3 Year Fixed Rate Rental Cover at 6.09% (£695 arrangement fee, max 75% LTV)
B2L 3 Year Fixed Rate Rental Cover at 6.18% (£695 arrangement fee, max 85% LTV)
B2L 3 Year Fixed Rate Rental Cover at 5.98% (£1,995 arrangement fee, max 85% LTV)
B2L 5 Year Fixed Rate Rental Cover at 5.99% (£695 arrangement fee, max 75% LTV)
B2L 5 Year Fixed Rate Rental Cover at 6.04% (£695 arrangement fee, max 85% LTV)
B2L 5 Year Fixed Rate Rental Cover at 5.95% (£1,995 arrangement fee, max 85% LTV)
B2L 10 Year remains unchanged at 5.99%

For full details of the UCB Home Loans product range, please visit ucbhomeloans.co.uk.