UCB cuts rates on adverse credit mortgages

Specialist intermediary lender UCB Home Loans has announced reductions in the rates on its entire range of adverse credit mortgages and certain near-prime products.

All self-cert, very near prime and full-status adverse mortgages with a tracker rate will see their increments above the Bank of England base rate cut by between 0.25 and 0.76 per cent.

Mortgages in these categories that are currently on a fixed rate of interest will also see their rates go down by the same amount.

Residential self-cert prime and buy-to-let mortgages will not see any changes in their fixed and tracker rates.

The rate reductions mean that a three-year tracker version of one of UCB Home Loans' offers will start with a rate of 6.24 per cent.

Keith Astill, managing director of the lender, commented: "We are pleased to offer these competitive rates on our product range at a time when interest rates are continuing to rise."

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