Suffolk Building Society is reducing the rates on its 2-year fixed rate resi and expat resi mortgage products to ensure brokers and borrowers can benefit following recent changes to the Bank of England base rate.
The cuts of up to 24bps are effective from Monday 19 May and include seven products in total, all of which are available to applicants borrowing in – and into – retirement: there is no maximum age at application or at the end of the mortgage term.
Charlotte Grimshaw, Head of Intermediaries at Suffolk Building Society said:
“It’s great to take advantage of the base rate cut and lower swap rates to reprice down and pass on the benefits to borrowers.
“It’s especially pleasing to offer these lower rates to brokers with later life clients, those with complex income, or minor credit blips, as this is a large part of our UK residential lending portfolio.”
Rate reductions available from 19 May 2025:
Residential
● 80% LTV Residential 2 year fixed capital and interest reduced by 24bps to 4.85% (from 5.09%) until 31 August 2027.
● 80% LTV Residential 2 year fixed interest only reduced by 20bps to 5.15% (from 5.35%) until 31 August 2027.
● 90% LTV Residential 2 year fixed reduced by 20bps to 5.15% (from 5.35%) until 31 August 2027.
● 95% LTV Residential 2 year fixed reduced by 19bps to 5.35% (from 5.54%) until 31 August 2027.
Expat residential
● 80% LTV Expat Residential 2 year fixed capital and interest reduced by 20bps to 5.39% (from 5.59%) until 31 August 2027.
● 80% LTV Expat Residential 2 year fixed interest only reduced by 20bps to 5.59% (from 5.79%) until 31 August 2027.
● 90% LTV Expat Residential 2 year fixed reduced by 20bps to 5.70% (from 5.90%) until 31 August 2027.
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.
