In a clear sign of things to come in the borrowing and personal loans market, UCB Home Loans has increased its rates.

The company has announced a 0.25 per cent rise in its variable rates in line with the August rise in interest rates announced by the Bank of England earlier this month.

UCB Home Loans rate adjustment will take effect from September 1st and will be applicable to both new and existing customers.

The new variable rates for UCB Home Loans products will by 7.04 per cent for a flexible variable rate loan; 7.04 per cent for an investment flexible variable rate product; 6.64 per cent on a loyalty variable rate loan; and the rate for a self-certification variable rate loan will be 7.64 per cent.

UCB Home Loans is a specialist lending subsidiary of Nationwide Building Society and represents one of the UK 's largest lenders for specialist products such as self-certification and buy-to-let loans for property purchases.

Source:-fairinvestment.co.uk