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.
Product changes: information on DIPs and FMAs
Effective 5 August
Today we’re making a number of product changes, withdrawing some of our deals and making rate increases to others.
Full details of these changes can be found below.
When we increase rates we’re keen to make sure you have time to progress any outstanding cases on these products. We’re continuing to offer a set period of time for you to submit DIPs and FMAs, after the products have been withdrawn.
DIPs can be submitted on old rates up to 5pm on Monday 8 August.
Mortgage applications from these previously submitted DIPs can be submitted up to 5pm on Tuesday 16 August.
Product Withdrawals
- Expat residential 2-year fixed C&I @ 3.65%
- Expat residential 2-year fixed I/O @ 3.85%
- 80% residential 2-year discount C&I @ 1.99%
- 80% residential 3-year discount C&I @ 2.09%
- 80% residential 3-year discount I/O @ 2.25%
- 80% residential 2-year discount C&I @ 2.45%
- 90% residential 2-year discount C&I @ 2.35%
- 90% residential 2-year discount C&I @ 2.79%
- 90% residential 3-year discount C&I @ 2.45%
- 95% residential 3-year discount C&I @ 2.75%
Rate Increases
- 95% residential 2-year discount C&I +0.44%, now @ 3.09%
- 80% residential 2-year discount I/O +0.50%, now @ 2.65%
- 80% expat residential 2-year discount C&I +0.29%. now @ 2.99%
- 80% expat residential 2-year discount I/O +0.24%, now @ 3.09%
- 80% expat buy to let 2-year discount (+ topslicing) +0.40%, now @ 3.39%
- 80% buy to let 2-year discount (+ topslicing) +0.40%, now @ 2.85%
- 80% holiday let 2-year discount +0.24%, now @ 2.99%
Update from Suffolk Building Society – Temporary withdrawal of new applications
A recent high volume of business has resulted in our service levels exceeding the timescales we are comfortable with. After monitoring the market and careful consideration we are temporarily pausing mortgage applications.
This is not a decision we have taken lightly and is a temporary measure to enable us to clear our backlog. We are working hard to process our existing pipeline and our aim is to get all cases to offer and completion as quickly as possible.
For cases already in progress we have the following extended deadlines:
DIPs can be submitted up to 5pm on Tuesday 9 August.
Applications can be submitted up to 5pm on Tuesday 16 August.