Suffolk Building Society is reintroducing a range of 2-year fixed rate products. The society aims to provide more choice to brokers and their clients and to specifically support those buyers with smaller deposits via a 90% LTV residential mortgage.
The residential mortgage features a 2-year fixed rate at 6.49% until 31.12.2025, then switches to the SVR minus 1.74% until 31.03.2029. The loan details include a minimum of £75k and a maximum of £500k, with an application fee of £199 and a completion fee of £999.
Buy-to-let options are also available with a 2-year fixed rate at 6.59% that reverts to the SVR after 31.12.2025. These loans are for a minimum of £75k and a maximum of £1m, with identical fees to the residential mortgages.
The society is also targeting the expat buy-to-let and holiday let sectors with 2-year fixed rates of 6.75%. Additionally, the expat holiday let sector is offered a rate of 6.80%.
Andrew Sadler, key account manager at Suffolk Building Society, said: “Brokers and their clients always want choice. That’s why we are returning with the types of products that brokers are accustomed to us offering. In particular, the 90% LTV product will allow us to support first-time buyers with a smaller deposit once again, helping more people get a foothold on the housing ladder.”
Sadler added: “Following broker feedback, we’re also pleased to be again offering fixed rates on our BTL, holiday let and expat products.”
