"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"
- Charlotte Grimshaw - Suffolk Building Society
Suffolk Building Society has announced that it has made rate reductions across multiple 80% LTV products in its buy-to-let, holiday let and expat ranges.
Buy-to-let
In its core buy-to-let range, rates now start from 5.39% fixed for five years and 5.55% fixed for two years, following a reduction of 0.14%. 80% LTV light refurb rates have also been cut, with a two-year fix down to 5.65% and a five-year fix at 5.49%.
Holiday-let
In the society's holiday let range, a two-year fix is down by 14bps to 5.65% and a five-year fix by 24bps to 5.45%.
Expat
Reductions to expat buy-to-let products include a two-year fix down to 5.70% and a five-year fix down to 5.60%, with expat holiday let two and five-year fixes down to 5.89% and 5.79% respectively.
Expat residential rates have been reduced by 10bps, with a standard two-year fix down to 5.69% and a five-year fix at 5.49%. Interest-only rates have also been reduced by 10bps, with a two-year fix cut to 5.89% and a five-year fix down to 5.69%.
“We’re excited to reduce rates on some of our core lending areas," commented Charlotte Grimshaw, head of intermediaries at the society, adding "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. We’re hoping to share these with you in the near future.
She concluded, “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.”
