Suffolk Building Society slashes rates across fixed-rate expat, holiday let and BTL products

The cuts of up to 24bps are effective from today (17th February) across 14 fixed-rate products.

The changes to Suffolk’s BTL products include:

• 80% LTV two-year fixed has been cut by 14bps to 5.55% until 31st May 2027
• 80% LTV five-year fixed reduced by 10bps to 5.39% for 60 months
• 80% LTV light refurb two-year fixed reduced by 14bps to 5.65% until 31st May 2027
• 80% LTV light refurb five-year fixed cut by 10bps to 5.49% for 60 months

Rate reductions on holiday let products include an 80% LTV two-year fixed rate cut by 14bps to 5.65% until 31st May 2027, and an 80% LTV five-year fixed rate reduced by 24bps to 5.45% for 60 months.

Rate cuts to expat products include:

Expat BTL

• 80% LTV two-year fixed reduced by 15bps to 5.70% until 31st May 2027
• 80% LTV five-year fixed cut by 5bps to 5.60% for 60 months

Expat holiday let

• 80% LTV two-year fixed has been cut by 20bps to 5.89% until 31st May 2027
• 80% LTV five-year fixed reduced by 10bps to 5.79% for 60 months

Expat residential

• 80% LTV two-year fixed (C&I) reduced by 10bps to 5.69% until 31 May 2027
• 80% LTV two-year fixed (IO) cut by 10bps to 5.89% until 31 May 2027
• 80% LTV five- year fixed (C&I) reduced by 10bps to 5.49% for 60 months
• 80% LTV five-year fixed (IO) cut by 10bps to 5.69% for 60 months

Charlotte Grimshaw, head of intermediaries at 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 two- and five-year fixed rate products, we’re continuing to work on innovative criteria changes to further strengthen our proposition.

“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.”