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.
Criteria Enhancements – with immediate effect.
Five new foreign currencies accepted including Saudi Riyal and Australian Dollar.
Plus… flats up to seven storeys and the acceptance of non-court ordered maintenance.
Great news. Following feedback from you we’ve made several improvements to our criteria that we couldn’t wait to share.
What’s new in full?
💲 NEW currencies
- Saudi Riyal
- Australian Dollar
- New Zealand Dollar
- Swedish Krona
- Danish Krone
We’re now accepting these for resi, expat resi, regulated BTL, and regulated expat BTL. These join 11 existing currencies, meaning we’ll now accept 16 currencies in these lending areas.
There are no currency restrictions for BTL or holiday let (standard and expat).
🧒 Non-court ordered maintenance
We’ll now accept this, with 12 months of credits on bank statements.
🏠 Flats up to seven storeys
We’ll now lend up to seven storeys (was five). Up to 10 storeys considered for shared ownership.
We’re hitting the ground running in 2024.
We hope you like these improvements, which follow these gems:
- The return to 95% lending
- 2-year discount with no ERC
- BTL Light Refurb product
- Residential large loan up to £2m
- Expat residential large loan up to £2m
Up to 55bps off expat resi… and more!
💰 Improved BTL calculations with new lower rate/higher fee.
⛺ Five-year resi fixes at 80%, 90% and 95% LTV.
🧷 Return to 95% LTV shared ownership.
Buckle up brokers, this is a long one. Following the three criteria changes we shared on Monday, here’s a medley of rate drops and new products, for purchase and remo.
From 22 February 2024.
Expat resi 80% LTV
- 2 Year Fixed C&I at 5.59%
- 2 Year Fixed Large Loan C&I at 5.59%
- 2 Year Fixed IO at 5.89%
Resi 5 Year Fixed
- 80% LTV at 4.89%
- 90% LTV at 4.99%
- 95% LTV at 5.35%
Buy to Let 80% LTV
- 2 Year Fixed at 4.79% (3% completion fee)
Expat Buy to Let 80% LTV
- 5 Year Fixed at 5.80% (£1,499 completion fee)
- 2 Year Fixed at 5.29% (3% completion fee)
Shared Ownership 95% LTV
- 2 Year Fixed C&I at 5.60%
BTL Illustration.
Our new BTL product lets landlords borrow more, without fixing for five years. Here’s what they can borrow with £1,000pcm rental income.