The group confirmed that it has removed the GBP150,000 minimum loan size restriction on its current buy to let three-year fixed-rate exclusive with SJP, Thinc, Savills and The Money Store, priced at 5.89%. This change is designed to create opportunities in regions of the UK with lower house prices, where the minimum loan size restriction may have been a barrier to business.
Alex Murray, group director of mortgages at Thinc, said: This criteria enhancement by UCB Home Loans (UCBHL) is further proof of their commitment to become a major player in the buy to let market. A lender like UCBHL, with the ability to respond quickly to market changes, is always welcomed.
The lender will also remove its current 75% loan-to-value (LTV) band on its self-cert two-year tracker with Home of Choice and PMS. The product will now be available up to 85% at 5.74% instead of 75%.
John Mallone, managing director of PMS said: At a time when rates are continually rising, it is good to see a lender such as UCBHL making the lower rate available at the higher LTV and keeping the rate below 6%, which in the present climate makes it a very attractive rate.
