UCB Home Loans announces mortgage interest rate change

15-Aug-2006

UBC Home Loans has taken the decision to increase its standard variable rate of interest by 0.25 per cent across its entire product portfolio; a move that could have wide-reaching implications for first time buyers.

Flexible Variable Rate mortgage and Investment Flexible Variable Rate mortgages will now incur interest at 7.04 per cent, with UCB's Loyalty Variable Rate increasing to 6.64 per cent.

The standard Self-Certification Variable Rate will rise to 7.64 per cent.

UCB Home Loans specialises in buy-to-let mortgages and lending to those with variable-incomes, particularly the self-employed, contract-workers, company-directors and individuals with multiple variable-incomes.

The company is a specialist subsidiary of Nationwide Building Society, providing mortgages to clients introduced through intermediary advisors.

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