Suffolk Building Society

Buy to Let Light Refurb – launches 17 January 2024.

We’re helping landlords who want to carry out light refurbishments.

Our new products use estimated rental income after work’s been carried out – potentially letting landlords borrow more.

Light refurb means new bathrooms, kitchens, and non-structural redecorations.

Landlords will have six months to complete the renovations before the property is advertised to let. Applicants will need to evidence:

• sufficient savings to cover the first six months of mortgage repayments (while no tenant is in place)
• plans/costings for the intended work
• the capital to complete the refurbishments (if this is not being financed by the mortgage).

*** stop press*** We’ve also added in a new standard BTL 2 Year Discount product at 5.79%

The details:

• Available for purchase and remortgage 
• 2-year discount deal at 5.89% (SVR minus 2.80%) 
• 2-year fixed deal at 6.14%
• 5-year fixed deal at 5.79%
• Maximum LTV 80% 
• Minimum loan size £75k, maximum loan size £1m 
• Application fee £199 and completion fee £999.

Criteria and reasons to choose us.

Our criteria in brief

1. Max three let properties.
2. Can consider non-owner occupiers.
3. We lend on regulated BTLs where family members are residing.
4. No maximum age.
5. First time buyer BTL accepted.

Why Suffolk?

1. Every case manually underwritten.
2. Overpayments: 50% ERC-free on all products.
3. We’ll consider annexes, flats above good quality commercial.
4. Loans up to £1m, refer if over.

Find details on our latest products and rates on our website using the link below.

Product Finder >>

Whilst we can’t list everything we accept, or the conditions which apply, we’re on hand to help! If you want to find out more, or have a case in mind, give us a call on 0330 123 1073.

New Resi Rates and Dates – inc S/O and self build

We’re repricing, and extending the fixed rate end dates, on some of our resi products. These include rate reductions across our standard residential, shared ownership, and self build product ranges.

We’re always happy to take any criteria-related questions. Either contact your BDM or call the team on 0330 123 1073.

Rate reductions from 17 January 2024.

Resi – 80% (Max £1m)

• 3 Year Fixed C&I at 5.09% 
• 2 Year Fixed C&I at 5.19% 
• 2 Year Fixed IO at 5.79% (Max £350k)

Resi – 90% (Max £500k)

• 3 Year Fixed at 5.39% 
• 2 Year Fixed at 5.49%

Self Build Resi – 80% (Max £1m)

• 2 Year Discount Eco Self Build at 5.99%
• 2 Year Discount at 6.09%

Self Build Large Loan – 70% (Max £2m)

• 2 Year Discount at 6.19%

Shared Ownership – 90% (Max £500k)

• 2 Year Fixed at 5.99%