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Self-certification and buy to let mortgage rates cut
Fri, 12 Aug 2005
UCB Home Loans announced another mortgage rate cut on two of its mortgage ranges.

The mortgage lender announced that the new mortgage rate on its two-year flexible mortgage will be fixed at 4.99 per cent, down from 5.09 per cent.

A two-year flexible mortgage aimed specifically at those wishing to take out a remortgage has a fixed rate of 5.09 per cent.

The flexible three-year and five-year mortgages have fixed mortgage rates of 5.19 per cent and 5.29 per cent respectively.

The specialist mortgage lender of Nationwide also announced mortgage rate cuts on its buy to let mortgage range.

All buy to let fixed mortgage rates are cut by 0.30 per cent and a new three-year fixed rate buy to let mortgage will also be introduced.

The new mortgage rates start from 5.09 per cent for the two-year flexible mortgage to 5.29 per cent for the five-year mortgage.

Mortgage rates have been falling across the market over the past couple of months, the mortgage lender's managing director commented.

"This latest mortgage rate reduction puts us in a particularly competitive position when compared to other specialists in the self-certification and buy-to-let sectors," Keith Astill said.

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

"The alignment of our buy-to-let fixed rates with our self-certification fixed rates simplifies the whole product range and gives us an extremely attractive overall package" he added.

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