Suffolk Building Society is refreshing its 2- and 5-year fixed rate products across expat resi, expat buy to let, and expat holiday let. Brokers will see rates reduced by as much as 16bps and the Society’s 2-year fixed rate products will be set up with an extended end date (30 November 2025).
Charlotte Grimshaw, Head of Intermediaries at Suffolk Building Society said: “We’ve been in the expat market for almost two decades now and have received applications from British Nationals living in 92 countries across the world. We’ve become one of the go-to lenders for expat as we support brokers with the heavy-lifting to help get their overseas clients’ applications across the line. We understand that this is not always an easy task, with extra layers of complexity involved with expats – whether foreign currency income or deposits raised outside of the UK.
“We hope these changes to our expat range land well with brokers. We know that every little helps with affordability and rental calculations at the moment and a reduction in rates goes some way to support this. With 77,000 British citizens emigrating in 2024, it’s certainly a lucrative market for intermediaries!”
Other product refreshes
As part of this refresh, Suffolk Building Society is also reducing the rate on two standard buy to let products and two buy to let light refurb mortgages by up to 15bps. Both 2-year fixes will also be launched with an extended end date, as will one additional holiday let product.
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 help desk team is available to assist with any queries.
