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.
SVR increase + new products + reduced rates
Following the Base Rate increase to 0.50% on 3 February we are implementing a partial rate change:
Our SVR will increase by 0.15% to 5.54%, effective 1 March 2022.
Whilst the base rate increased by 0.25% there have now been two rate increases in quick succession. We have been keen to take into consideration the interests of mortgage borrowers, especially at a time when other living costs are rising, and, being conscious of this squeeze on household budgets, have therefore agreed a partial increase.
New products, changes and rate reductions.
We have reviewed our product range and will be making the following changes:
Reduced:
Residential 80% LTV
- 2-year discount C&I reduced 5bps to 2.10%
Shared ownership
- 2-year fixed reduced 20bps to 3.45%
- 5-year fixed reduced 9bps to 3.80%
Holiday let
- 2-year fixed reduced 10bps to 3.55%
Expat holiday let
- 2-year discount reduced 35bps to 3.50%
Expat buy to let
- 2-year discount reduced 16bps to 3.19%
Buy to let
- 2-year discount reduced 40bps to 2.85%
New:
Expat buy to let 80% LTV
- 2-year fixed at 3.59%
Residential 80% LTV
- 3-year fixed at 2.45%
Residential 95% LTV
- 3-year fixed at 3.35%
Increased:
Standard residential interest only products are increasing by 10bps:
- 2-year discount now 2.70%
- 2-year fixed now 2.95
- 5-year fixed now 3.25%