"While we're known for our niches of older borrowers, holiday lets, expats and self-build, it's great to also be supporting residential borrowers with a highly competitive rate at 90% LTV."
- Charlotte Grimshaw - Suffolk Building Society
Suffolk Building Society has announced that it has reduced the rate on its 90% LTV residential 3-year fixed product to 4.99% - a reduction of 40bps.
At the same time, the Society is withdrawing its 80% LTV and 95% LTV 3-year fixed options from its range. The DIP deadline for the withdrawn 80% and 95% products is 15 April, and the App deadline is 22 April.
The lender has also announced reductions on its holiday let products, as well as extending the end date on 2-year fixed products.
The following will be available from Thursday 11 April 2024:
Residential
90% LTV 3-year fixed repriced to 4.99% (reduction of 40bps)
Holiday let
The Society’s holiday let 2-year fixed has been reduced by 29bps to 5.80% (previously 6.09%) until 30/06/26. Its 5-year fixed is also repriced, to 5.69% for 60 months and its 2-year discount has been cut by 30bps to 5.79% (from 6.09%) for 24 months.
Additionally, its expat holiday let 2-year discount has been reduced to 6.19% (from 6.29%) for 24 months.
And finally, the expat holiday let 5-year fixed 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, Suffolk Building Society said: “'While we're known for our niches of older borrowers, holiday lets, expats and self-build, it's great to also be supporting residential borrowers with a highly competitive rate at 90% LTV.
"We’re pleased to be supporting intermediaries and their clients with this 90% residential 3-year fixed below 5%.
“The holiday let market also 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.”
