UCB increases rates on self-cert products

UCB Home Loans, the specialist lender of Nationwide, is increasing interest rates on its self-cert two year fixed rate mortgages by 0.15% to reflect recent movements in the money markets.

The rates are available from November 14 2005:

Self-cert flexible two year fixed (purchase and remortgage) will be available at 5.14%, APR 6.7%, and self-cert flexible two year fixed (remortgage only) will be available at 5.24%, APR 6.7%.
All other self-cert fixed rates and buy-to-let fixed rates remain unchanged.

Keith Astill, managing director of UCB, says: “The market has enjoyed a period of low fixed rates over recent months, but we can see that the tide may be beginning to turn.

“Many other lenders in our market have increased fixed rates across their entire product range, whilst weve only applied this relatively small increase to our two year self-cert products. Not only do we remain competitive in this area, but our three and five year self-cert fixed rates and our complete buy- to-let range have some of the most competitive rates and lowest arrangement fees in the market.”