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UCB ups rates following base rate decision

UCB Home Loans has become the latest lender to up it rates following the base rate rise two weeks ago.

The lender will increase its variable rates by 0.25 per cent for both new and existing borrowers from September 1.

This follows the decision to increase the base rate from 4.5 per cent to 4.75 per cent, the first change in a year. A number of lenders such as Northern Rock have also increased their rates in the past two weeks.

UCBs new variable rates are as follows: flexible at 7.04 per cent, investment flexible at 7.04 per cent, loyalty at 6.64 per cent and self-certification at 7.64 per cent.

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