UCB home loans interest rates too high
If you have a variable rate mortgage with UCB home loans, your UCB variable rate should be 3%, bearing in mind the Current base rate is just 1%.
The rip off UCB variable RATE IS 4.79%, so i quote from the UCB home loans web site.
The interest rate you pay on a variable rate mortgage will go up and down over the lifetime of your mortgage – roughly in line with interest rates in the economy. – 4.79% is not roughly inline with interest rates.
Having a variable rate means paying a fair market price for the money you borrow – and you won’t be tied into early repayment terms and conditions.
Which means the 0.1% drop in rates for the January payement is a rip off, so we call on the UK Government to penalise UCB and the nationwide building society…
Nationwide mortgages rip off.. UCB home loans 
It is a disgrace what UCB (Nationwide) are charging so much. I am a customer who is paying SVR currently at 4.99% (12 Feb 08) .
Considering BOE Base rate is at 1% and LIBOR 2.1% for every 100 they get over £60 is profit. This is making me sick, I need to reduce my mortgage loan instead of paying this money to UCB. If this practice continues I will be seriously considering handing the keys back to this greedy lender…
We all know that many of the global bankers aren t the smartest people in the world, if they continue this practice they will have bigger problems when they take the HUGE losses from Property Owners who refuse to pay their mortgages.
UCB / NATIONWIDE …… TAKE NOTE
A RUN ON THIS SOCIETY IS NEEDED AS THEY MUST BE IN TROUBLE WHEN CHARGING SUCH EXCESSIVE RATES
I agree whole heatedly with your sentiments, UCB HOME loans are a rip off.
However if you go here then you can complain to the regulators and Gordon Brown PM
Nationwide UCB are a rip off. I took out a tracker rate but was suprised to find a collar of 2.75%. No mention of this was made during my conversation with them. I expect my contract to confirm what is discussed. Also FSA require this on the Key Facts Document, which was not on it.
I’m in the process of complaining to the Financial ombudsman.
I am a victim of the UCB home loans high variable rate which is a total rip-off. But what can be done about it? Can Anybody advice me?
Hi mate did you sort out your problem with Ucb need help too
its a disgrace that this bank can get away with it
Th rate iof interest charged by UCB is much superior to any other money lender and I request a member of the UCB Management team to call me and offer an alternative mortgage which would be extremely helpful as I am under severe financial pressure.
Has anyone managed to do anything about this disgrace! I have been on this for many years now, it is outrageous.
The government needs to get a grip with controlling the interest rate these legalised loan sharks are charging eg UCB Homeloans.
I took a buy to let mortgage with the nationwide not UCB Homeloans who are ripping people off.
How does the government expect hard working individuals to kick start the economy by creating business and wealth when the banks are holding them to ransom by strangling them with extortionate interest rates.
Unfortunately it is the hard working public who are the back bone of this country who have been the hardest hit…..thousands of people will have no choice but to throw the towel in and go bankrupt….destined for the awful doors of the DSS.