As part of the alterations, the lender has removed the £150,000 minimum loan restriction on its three-year fixed rate 5.89 per cent product exclusive with Thinc, Savills, The Money Store, and CJP.
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In other changes, UCB Home Loans has also removed the 75 per cent loan-to-value (LTV) band on its self-cert tracker with Home of Choice and PMS. As part of the enhancements, the LTV band has also been increased to 85 per cent, with a rate of 5.74 per cent.
Commenting on the range, John Malone, managing director at PMS, said: “At a time when rates are continually rising, it is good to see a lender such as UCB Home Loans making the lower rate available at the higher LTV and keeping the rate below 6 per cent, which in the present climate is a very attractive interest rate.”
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Brian Poole, mortgage adviser for AM Ruthven & Associates, said: “This product is pushing people to borrow more. As an adviser, you have to be careful that it is in the client’s interest to do so. It will suit a certain market or applicant – the high earners who are not so worried about rental income.”
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