UCB Home Loans Buy-to-Let 2-Year Flexible Tracker among changes
www.moneynews.co.uk > Mortgages > UCB Home Loans Buy-to-Let 2-Year Flexible Tracker among changes
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Money News |
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UCB Home Loans Buy-to-Let 2-Year Flexible Tracker among changes
Fri 24th Feb 2006
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These products will track at 0.89 and 0.99 respectively above the Bank of England base rate, meaning that their opening rates will be 5.39 and 5.49 per cent.
A new flexible buy-to-let offering with a two-year fixed-rate of 5.19 per cent has also been offered.
Several changes have been announced in the company's buy-to-let range as a whole, including borrowers being allowed up to ten properties, a change from the previous maximum amount of two.
Resultantly, a maximum aggregate borrowing amount of £3 million is now allowed, compared to the previous allowance of £600,000.
These moves in the buy-to-let market were explained by UCB managing director Keith Astill: "We are now in the process of increasing our activity to reflect the way in which the sector is maturing."
Both the UCB Home Loans Buy-to-Let 2-Year Flexible Tracker and 5-Year Flexible Tracker will revert to their variable annual rates of 6.8 and 6.5 per cent respectively when the initial tracker periods expire.
They have early repayment charge periods of two and five years and both have a remortgage offer available.
Related News : Mortgages |
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