Suffolk Building Society has cut rates on its 5-year fixed residential mortgage range, by between 0.10% and 0.20%.
The new rates include an 80% loan-to-value (LTV) 5-year fixed capital and interest reduced by 0.20% to 4.79%, and an 80% LTV 5-year fixed interest only reduced by 0.20% to 5.09%.
In addition, a 90% LTV 5-year fixed capital and interest has been reduced by 0.20% to 4.99%, while a 95% LTV 5-year fixed capital and interest has been reduced by 0.10% to 5.29%.
Charlotte Grimshaw, head of intermediary relations and mortgage sales at Suffolk Building Society, said: “We’re making this move because borrowers shouldn’t have to choose between the security of a longer-term deal and a great rate.
“There is still some uncertainty in the market, particularly for first time buyers and those who are new to home ownership, and so we know that there is demand for good all-around 5-year deals.
“Not everyone will want or need a 5-year fix but it’s a good product for any broker to have in their armoury.
“We also take multiple sources of income into consideration and offer 40 year terms, so we can provide that extra comfort factor around affordability for brokers and their clients.”
