UCB Home Loans unveils new tracker product

UCB Home Loans, the specialist lending subsidiary of Nationwide, has launched a new limited offer self-certification three-year tracker mortgage.

This product is currently priced at 5.09 per cent and will track the Bank of England base rate plus 0.34 per cent for three years.

Free standard valuation is incorporated into this offer, which is available at up to 85 per cent loan-to-value and has an early repayment charge of three per cent of the original loan in the first three years.

Keith Astill, managing director of UCB Home Loans, said: "This new product offers a highly competitive, value-for-money deal.

"With an extremely attractive rate, an arrangement fee of only £495 and the added benefit of a free standard valuation it’s one of best overall packages currently available."

As well as its new product, UCB Home Loans also announced that it is increasing the rates on its self-cert and buy-to-let two- and three-year flexible fixed-rate products.

Its self-certification options for two and three years now have rates of 5.69 and 5.64 per cent respectively, while the two- and three-year buy-to-let packages now charge 5.69 and 5.64 per cent respectively.