UCB Home Loans launches new buy to let mortgages
A new range of buy to let mortgages has been launched by UCB Home Loans for those looking to make buy to let mortgages has been launched by UCB Home Loans for those looking to make property investments in the rental sector.
Rates on the new products start at 5.54 per cent and are fixed for two, three, five or ten years. Alternatively, borrowers could opt for a tracker rate.
Available with free valuations on purchases or remortgages, the loans include rental cover at 110 per cent of the Bank of England base rate plus 1.25 per cent.
Andy McQueen, managing director of UCB Home Loans, said there is still strong demand for buy to let mortgages, according to mortgage brokers.
"We expect this suite of products, which offers a wide range of rate, fee and repayment options, to prove very popular," he remarked.
Meanwhile, mform.co.uk reports that a study for the Property Investor Show reveals that many Londoners are investing in buy to let property outside of the capital and using the rental yields to help them get a foot on the property ladder in the city.
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