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 Suffolk products.
Criteria Changes – Suffolk Building Society
We’ve made changes to our criteria across Expats, Foreign Nationals and Interest Only (downsizing specifically).
Please see highlights below;
Foreign Nationals
- Time in the UK before application reduced to 1 year
- Length of time remaining on visa reduced to 1 year
Expats
- Resi minimum age reduced to 18
- BTL minimum income reduced to £25k
Interest Only LTV
- For downsizers, Interest Only LTV increased to 70%
- Minimum equity required for downsizing/sale of property is now £250k
Withdrawal of Shared Ownership. And an invitation.
In advance of something new and pretty exciting coming next week, we’re withdrawing the two products in our Shared Ownership range.
We always aim to give you as much notice as possible, so here are your deadlines:
DIP deadline 5pm Tuesday 8 October 2024
FMA deadline 5pm Friday 11 October 2024
Withdrawn Products
Shared Ownership 2 Year Fixed Rate – for purchase, remortgage or staircasing – up to 95% LTV 5.60%
Shared Ownership 5 Year Fixed Rate – for purchase, remortgage or staircasing – up to 95% LTV 5.25%