Rates are reduced by up to 30bps
Suffolk Building Society has announced rate reductions on its expat holiday let and expat buy-to-let products.
The mutual is slashing rates by up to 30 basis points (bps) and extending the end dates of these deals to support UK nationals living abroad.
The lender’s 80% LTV expat holiday let two-year fixed rate has been cut by 30bps to 6.09%, down from 6.39%, and extended until October 31, 2026. The 80% LTV expat buy-to-let two-year fixed rate has been reduced by 10bps to 5.99%, down from 6.09%, and extended until October 31, 2026. In addition, the 80% LTV expat buy-to-let two-year fixed rate with a 3% completion fee will be available at 5.29% and extended until October 31, 2026.
Other buy-to-let and holiday let products have also been repriced and/or extended.
The mutual has communicated this product information to intermediaries through email, and the product pages on its website. The deals can be found through the society’s Mortgage Product Finder tool, along with further details.
“As expat and holiday let specialists, we’re continually monitoring the market and reviewing our proposition,” said Charlotte Grimshaw (pictured), head of intermediary relations and mortgage sales at Suffolk Building Society.
“We’re aware that it’s a challenging time at the moment, especially with rates and the ICR stress tests. By repricing our expat holiday let and expat buy-to-let products, we’re helping expat borrowers, particularly with rental coverage requirements.”
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