UCB reduces rates on fixed mortgages

UCB Home Loans, the self-certification lender and subsidiary of Nationwide Building Society, is

reducing the rates on its entire range of fixed rate mortgages from 5 August 2002.

The reduction applies to both residential and investment buy-to-let mortgages. Residential

rates will reduce by 0.36% for the 2 & 3 year products and 0.26% for the 5 year product.

Both the 2 & 5 year buy-to-let fixed rates will reduce by 0.36%.

Charles Reed, managing director, UCB Home Loans, says: “These reductions have been made in

light of new speculation that the Bank of England may now hold off an increase in its variable

base rate in the imminent future.

“These new rates will also provide self-certification borrowers with another opportunity to buy

into a low fixed rate, to safeguard against future rises.”