Suffolk Building Society has announced comprehensive rate reductions across its mortgage products to ensure brokers and borrowers can benefit from recent market movements.
The cuts of up to 24bps are effective from Monday 17 February 2025 and affect 14 fixed rate products. The reductions are across buy to let, holiday let and all expat ranges (buy to let, residential and holiday let).
Charlotte Grimshaw, Head of Intermediaries, Suffolk Building Society said:
“We’re excited to reduce rates on some of our core lending areas. In addition to lowering our rates across many 2 and 5 year fixed rate products, we’re continuing to work on innovative criteria changes to further strengthen our proposition. We’re hoping to share these with you in the near future.
“By working closely with our brokers, we know that offering flexibility – such as multiple currencies on one application, and using uncrystallised pension pots – is making a huge difference, especially in terms of supporting people with more complex incomes.”
Rate reductions
Buy to let
- 80% LTV 2 year fixed has been cut by 14bps to 5.55% (previously 5.69%) until 31 May 2027.
- 80% LTV 5 year fixed reduced by 10bps to 5.39% (previously 5.49%) for 60 months.
- 80% LTV light refurb 2 year fixed reduced by 14bps to 5.65% (from 5.79%) until 31 May 2027.
- 80% LTV light refurb 5 year fixed cut by 10bps to 5.49% (previously 5.59%) for 60 months.
Holiday let
- 80% LTV 2 year fixed has been cut by 14bps to 5.65% (previously 5.79%) until 31 May 2027.
- 80% LTV 5 year fixed reduced by 24bps to 5.45% (previously 5.69%) for 60 months.
Expat buy to let
- 80% LTV 2 year fixed reduced by 15bps to 5.70% (from 5.85%) until 31 May 2027.
- 80% LTV 5 year fixed cut by 5bps to 5.60% (previously 5.65%) for 60 months.
Expat holiday let
- 80% LTV 2 year fixed has been cut by 20bps to 5.89% (previously 6.09%) until 31 May 2027.
- 80% LTV 5 year fixed reduced by 10bps to 5.79% (previously 5.89%) for 60 months.
Expat residential
- 80% LTV 2 year fixed (C&I) reduced by 10bps to 5.69% (from 5.79%) until 31 May 2027.
- 80% LTV 2 year fixed (IO) cut by 10bps to 5.89% (previously 5.99%) until 31 May 2027.
- 80% LTV 5 year fixed (C&I) reduced by 10bps to 5.49% (from 5.59%) for 60 months.
- 80% LTV 5 year fixed (IO) cut by 10bps to 5.69% (previously 5.79%) for 60 months.
The Society has communicated this product information to intermediaries via email, and the product pages on the Society’s websites have been updated. The deals can be found through the Society’s Mortgage Product Finder tool, along with further details.
The Society’s helpdesk team is available to assist with any queries.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
