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Mortgage lender to offer exclusive deal

Fri, 03 Feb 2006

Nationwide's specialist mortgage lender UCB Home Loans has announced the introduction of an exclusive mortgage deal that will be available from next week.

The one-year flexible fixed-rate mortgage will be launched in conjunction with Mortgage Intelligence.

Available with a maximum loan-to-value of 85 per cent, the mortgage rate on the deal is 4.75 per cent.

No overhang redemption penalty applies for the 12-month fixed period and overpayments of as much as £500 are allowed on a monthly basis.

Sally Laker, Managing Director of Mortgage Intelligence said there is an "increased demand" for a deal like this that is "competitive".

She says this product is ideal in a time when "interest rates are still uncertain and predicted to be lower at the end of the fixed-rate period".

The mortgage lender has also teamed up with AMF, Manor Mortgages, the Mortgage Times Group and Optoma to offer a new one-year flexible tracker mortgage for self-certification clients.

Also offering a loan-to-value maximum of 85 per cent, the mortgage will be set at 0.49 per cent above the Bank of England's base rate for 12 months.

Director of AMF Helen Hymos says the mortgage packager is "delighted" to offer an "extremely competitive" mortgage rate that will allow mortgage borrowers to benefit from interest rate cuts which are expected this year.

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