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.
Rate reductions on variable rates and new fixed rate deals
Our 80% LTV (interest only) 3 year discount product is being withdrawn today and not replaced. The DIP deadline is Friday 18th November.
New Fixed Rates
NEW – 80% Residential C&I 2 Year Fixed @ 6.29%, completion fee £999
NEW – 80% Residential IO 2 Year Fixed @ 6.59%, completion fee £999
NEW – Expat Residential C&I 2 Year Fixed @ 6.59%, completion fee £999
NEW – Expat Residential IO 2 Year Fixed @ 6.79%, completion fee £999
Rate Reductions
80% Residential C&I 2 and 3 Year Discounts reduced to 3.39%
80% Residential I/O 2 Year Discount reduced to 3.69%
Holiday let and buy to let
Holiday Let 2 Year Discount reduced to 4.49%
Buy to Let 2 Year Discount reduced to 4.29%
Expat
Expat Holiday Let 2 Year Discount reduced to 4.69%
Expat Buy to Let 2 Year Discount reduced to 4.49%
News about our SVR
Following the announcement from the Bank of England on 3rd November 2022 to increase the base rate by 0.75bps to 3.00% we will be changing our SVR.
Our SVR will increase by 0.60bps to 6.94% effective 1st December 2022.
In the eight successive rate rises from December 2021 the base rate has increased by a total of +2.90bps.
During the same period our SVR will have increased by +1.70bps (including this change effective 1st December 2022). If you want to find out how our SVR has changed in response to base rate movement we have put together a summary on our website.
For existing borrower clients with a discount rate deal this will increase in line with the SVR change on 1st December 2022. For clients with a base rate tracker mortgage the base rate increase will be applied from 1st December 2022.