UCB Home Loans cuts fixed rate buy-to-let rate

Platform cuts rates on buy to let products

Platform, The Co-operative Bank’s intermediary mortgage lender, has lowered the rates on its range of two year fixed rate buy to let products by 0.2 per cent.
Loan rate cuts announced by Barclays

Barclays has unveiled plans to cut the rates on its highest loan-to-value (LTV) products.

Friday, 23 November 2007 12:00

Nationwide subsidiary, UCB Home Loans, is cutting interest rates on all of its buy-to-let mortgages.

Buy-to-let mortgages now start from 5.98 per cent on the two and three-year fixes and 5.95 per cent on the five-year fixed rate deal.

Last month UCB also improved its "rental cover only" calculation for buy-to-let landlords to 110 per cent of bank base rate + 0.5 per cent.

Andy McQueen, divisional director of Nationwide specialist lending, said: "Following on from the improvements to the rental cover calculation which were made last month, UCB Home Loans is now offering even better rates on its buy to let mortgages.

"This makes the rental cover option a particularly good choice for property investors looking to expand their portfolios, with the three and five-year products being extremely competitive."

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