Here are the latest updates from the Suffolk Building Society. These products are available via our direct to lender mortgage club which offers you payment on completion as well as specialist mortgage support and more. Click here for a full list of Ipswich products.
90% LTV Resi Rate Drops. New max loan limits for Resi IO.
We’re pleased to be reducing rates on our 90% LTV mortgages. These will be available for purchase and remortgage from Tuesday 31 October 2023.
We are also reducing the maximum loan on four of our residential and residential expat interest only products to £350k.
All DIPs for loans above £350k, already received by 31 October 2023, will be honoured.
New products and limits from 31 October 2023.
Residential Capital & Interest 90% LTV
90% 2 Year Fixed now 5.79%
90% 3 Year Fixed now 5.79%
New max loan of £350k:
- Resi IO 2 Year Discount
- Resi IO 2 Year Fixed
- Expat Resi IO 2 Year Discount
- Expat Resi IO 2 Year Fixed
Eco self build product – available 1 November 2023
We’re giving a boost to your energy efficient self builders and renovators from today.
Our new eco self build product is 10bps lower than our standard self build rate, and features a ‘knock down’ completion fee that’s £500 lower.
- Eco Self Build & Renovation 2 Year Discount 6.09% (SVR minus 2.60%) – £999 Completion Fee.
- The product is for self builders who intend to build a property with an EPC rating of A or B, which includes at least two of the following qualifying energy efficient features: photovoltaics, solar panels, air source heat pump, ground source heat pump, rain water harvesting, greywater collection, triple glazing, mechanical ventilation with heat recovery system, biomass pellet boiler, wind turbines, higher than usual levels of thermal insulation, geothermal heating, compostable toilet or electric car charging stations. These features will need to be evidenced in the plans/costings.
Why choose Suffolk Building Society for self build?
We’re experts at lending for new projects, conversions, renovations, and knock down and rebuilds, and can help you every step of the way.
- Max 80% LTV for both purchase and remortgage. (For a remortgage, applicants need to be the owner on the Land Registry).
- We’ll lend against the land value and consider cases where the build has started.
- Clients benefit from flexible stage releases with no set stages, so they can access funds to suit their individual project.
- Interest only available during the build.
- Upon build completion your client can switch penalty free to one of our residential retention products.
- All self builders whose finished property is EPC A or B qualify for a lower interest rate follow-on product.
- Loans up to £1m, refer if over.