Suffolk Building Society has announced rate cuts on its expat holiday let and expat buy-to-let products of by up to 30 basis points.
From Tuesday 18 June 2024, the 80% LTV expat holiday let 2-year fixed rate will be cut by 30 basis points to 6.09%, previously 6.39%, and will be extended until 31 October 2026. The 80% LTV expat buy-to-let 2-year fixed rate will be reduced by 10 basis points to 5.99%, previously 6.09%, and will also be extended until 31 October 2026.
Additionally, the 80% LTV expat buy-to-let 2-year fixed rate with a 3% completion fee will be 5.29%, now extended until 31 October 2026.
Charlotte Grimshaw, head of intermediary relations and mortgage sales at Suffolk Building Society, said: “As expat and holiday let specialists, we’re continually monitoring the market and reviewing our proposition.
“We’re aware that it’s a challenging time at the moment, especially with rates and the ICR stress tests.
“By repricing our expat holiday let and expat buy-to-let products, we’re helping expat borrowers, particularly with rental coverage requirements.”
