Suffolk Building Society Cuts Remortgage Rates
Suffolk Building Society has recently made adjustments to its residential mortgage products at a 95% loan-to-value (LTV) ratio and its 5-year expat buy-to-let (BTL) mortgage, offering reduced rates. These changes, effective from Monday, 29th January, are applicable for both purchase and remortgage products on a capital and interest basis.
As part of the modifications, the 2-year and 3-year products have been repriced to 5.89%, with a subsequent reversion to the Standard Variable Rate (SVR) minus 1.74% until 31st July 2029. These options are available up to 95% LTV, with a minimum loan of £75,000 and a maximum loan of £500,000.
The associated fees include a £199 application fee and a £999 completion fee.
In the case of the expat BTL offering, the 5-year fixed rate is now accessible from 5.95% at 80% LTV, with a minimum loan amount of £75,000 and a maximum loan limit of £1 million.
Andrew Sadler, Key Account Manager at Suffolk Building Society, expressed, “We are delighted to showcase our commitment to consistently delivering good value to brokers and their clients by further reducing rates. This is particularly significant for individuals with a small deposit, such as first-time buyers. It is also noteworthy for UK nationals residing overseas who often prefer the security of a 5-year deal.”