UCB Home Loans is launching a new self-certification three-year flexible tracker mortgage on September 1.
The specialist lender of Nationwide is launching the new product, with 5.19 per cent and 0.69 per cent above the Bank of England base rate.
Its features include overpayments, underpayments and payment holidays, plus a drawdown facility from a pre-agreed flexible advance.
UCB Home Loans managing director Keith Astill says: “Market feedback has indicated that a number of customers are looking for a product which sits between our existing two and five year mortgages.
“The launch of a three-year tracker product enables us to offer a choice to customers looking for a rate which tracks the base rate over a longer period than two years, but who do not wish to commit to a five year product at the current time.