UCB Home Loans, Nationwide's specialist intermediary lender is removing the £75 up-front reservation fee.
The latest move, prompted by feedback from intermediaries, will affect all its self-cert and buy-to-let products from Thursday 27 April. At the same time, UCBHL has reviewed its arrangement fees and is increasing them in order to re-align with the rest of the market. The self-certification arrangement fee is increasing from £330 to £495, whilst the buy-to-let fee will go up from £495 to £595. Keith Astill, UCB Home Loans managing director, said: "The removal of the reservation fee comes as a direct result of broker feedback and should help to speed up applucation processing times, whilst also partly offsetting the increase to our arrangement fees." Even though their fees have increased, UCBHL believe that they remain better or equal to their major competitors. Astill said: "This is the first time we have increased the fees on our buy-to-let range since we entered the market and its over two years since the last change to the self-cert fees. "UCB Home Loans' proposition is getting stronger and stronger and we're looking to build on this with some exciting developments planned over the coming year."
Date: 25th, April, 2006
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