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.
NEW: Expat holiday let to 80% launched today
By popular demand… Expat Holiday Let is here!
We’re now able to offer holiday let to your expat clients, offering our usual individual approach and manual underwriting as standard. Here’s a few things you should know:
- We can consider when only one applicant is a UK national.
- Deposits built up in country of residence accepted and most currencies accepted.
- First time landlords accepted, minimum age 30 (minimum age 21 for existing landlords).
- Up to 60 days’ personal use.
- Airbnb properties welcome.
- Rental coverage assessment requires a lettings agent (not Airbnb) to provide known or anticipated letting value.
- Up to 60 days’ personal use.
Our expat holiday let product:
Available up to 80% LTV:
- 2-year discount rate @ 3.85%.
- SVR (currently 5.39%) minus 1.54%.
- Max loan £750k.
Reduced rates across lending areas.
Plus change to SVR.
We have reduced rates across a wide range of our core lending areas and made a change to our SVR – please see full details below;
Base rate rise: our SVR has increased.
Our SVR increased by 0.15% to 5.39%, as of 1 February.
Fixed rate end dates have been extended.
The fixed rate product end dates have been extended (see product information for more details).
Rate reductions.
The following changes have been made:
Residential:
80% LTV:
2 year discount C&I reduced 10bps to 2.15%
2 year fixed C&I reduced 10bps to 2.35%
5 year fixed C&I reduced 10bps to 2.75%
2 year discount IO reduced 10bps to 2.60%
2 year fixed IO reduced 14bps to 2.85%
5 year fixed IO reduced 10bps to 3.15%
90% LTV:
2 year discount C&I reduced 30bps to 2.35%
2 year fixed C&I reduced 15bps to 2.65%
3 year fixed C&I reduced 15bps to 2.75%
5 year fixed C&I reduced 19bps to 2.90%
Expat residential:
2 year discount C&I reduced 10bps to 2.70%
2 year fixed C&I reduced 6bps to 2.99%
2 year discount IO reduced 10bps to 2.85%
2 year fixed IO reduced 5bps to 3.15%
Shared ownership:
90% share 2 year fixed reduced 10bps to 3.15%
95% share 2 year fixed reduced 9bps to 3.65% 95% share 5 year fixed reduced 10bps to 3.89%
Holiday let:
2 year discount reduced 10bps to 3.29%
2 year fixed reduced 14bps to 3.65%