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UCB expands buy-to-let range

Nationwide offshoot UCB Home Loans has announced the expansion of its range of products with the two-year fixed-rate buy2let mortgage.

The mortgage has an interest rate set at 6.49 per cent for loans of up to 80 per cent of valuation for the first two years.

The mortgage comes with a redemption penalty of six months’ interest in the first year and five months’ interest in the second year. It can be used to buy up to two properties.

This product joins an area of the market that has been growing steadily over the past year. According to the Council of Mortgage Lenders the buy-to-let mortgage market is now worth a total of £8.3bn. The latest available figures show that the market grew by 12.5 per cent in the first six months of 2000, with the number of lenders increasing from 30 to 39.

The UCB mortgage is not the most competitive product on the market. According to Moneyfacts the lowest rate two-year buy-to-let fixed-rate loan is from Clydesdale Bank, which has a fixed rate of 5.99 per cent for loans of up to 80 per cent of the value of the property. This has a redemption penalty of 3 per cent for the first year and 2 per cent for the second year and is slightly more flexible in that it can be used to buy up to three properties.


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Public saving for a recession

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Friends Ivory & Sime has announced it is setting up a new retail investment business, Isis, with the launch ofthree Oeic funds under the new brand on September 3. The Isis UK dynamic fund, to be managed by Rodger McNair and Richard Bell,will by nature be higher risk, with stockpicking likely to be bothselective and […]

PIA throws out IFA who forged signature

The PIA has terminated the individual registration of Christopher DavidCundell, a director with IFA Wilman & Lodge Financial Services of 12 OtleyStreet, Skipton, North Yorkshire. The regulator says Cundell forged the signature of a client on a documenthe submitted to the PIA ombudsman. He did so without the client&#39s knowledgeand with the ultimate objective of […]

Sierra Leone cover image - thumbnail

White paper — Sierra Leone International Insights

Jelf Employee Benefits assesses the areas that employers should be aware of when considering operating in Sierra Leone, including healthcare access, delivery and insurance provisions. This report draws on various sources to highlight specific considerations for this emerging jewel in West Africa.


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