Suffolk Building Society has cut its holiday let rates by up to 30bps, as well as extending the end date on two-year fixed products.
The new holiday let rates are available from today (11th April 2024).
The society’s holiday let two-year fixed rate has been reduced by 29bps to 5.80% (previously 6.09%) until 30/06/26.
The five-year fixed is also repriced, to 5.69% for 60 months, and the two-year discount has been cut by 30bps to 5.79% (from 6.09%) for 24 months.
The expat holiday let two-year discount has been reduced to 6.19% (from 6.29%) for 24 months.
Finally, the expat holiday let five-year fixed rate has been cut by 20bps to 6.09% (previously 6.29%) for 60 months.
All five holiday let products are available up to 80% LTV, and will then revert to SVR at the end of their respective mortgage terms.
Charlotte Grimshaw, head of intermediary relations at Suffolk Building Society, said: “The holiday let market remains a good investment for many people, especially with the popularity of ‘staycations’ showing little sign of waning just yet.
“By offering reductions of up to 30bps, we can continue to satisfy the growing demand for holiday properties.”
