FTAdviser.com

Advertising

Buy-to-let and self-certification

UCB HOME LOANS

Type: Buy-to-let and self-certification products.

Description: UCB has introduced a new range of buy-to-let and self-certification products with rates starting from 5.54 per cent.

Conditions: The new range includes two, three, five and 10-year fixed rates, as well as tracker rates, with rental cover at 110 per cent of bank base rate plus 1.25 percentage points. In addition to offering up to 75 per cent LTV, selected buy-to-let products are available with free valuations on purchases or remortgages. The self-certification products, available for up to 70 per cent LTV, are available on an interest-only or capital repayment basis or, as a combination of the two. Various fee options are available across two, three and five-year fixed-rate and two-year tracker rates, with initial pay rates starting from 6.09 per cent.

Verdict: The buy-to-let market is becoming more expensive with hardly any provider offering more than 75 per cent LTV. The base rate plus 1.25 percentage points does not price it out of the market. This product will have a niche attracting buyers that have completed the terms of their existing deals. More details are available only through regulated mortgage advisers.

Contact: www.ucbhomeloans.co.uk

* * *