Suffolk Building Society has reduced rates across its 2-year residential and holiday let mortgage offering.
The society’s 2-year residential fixed rates have been reduced by as much as 0.30% and holiday let has also been reduced by 0.11%.
Highlights include a residential 80% loan-to-value (LTV) 2-year fixed capital and interest product reduced by 0.30% to 4.99%, an 80% LTV 2-year fixed interest only reduced by 0.15% to 5.29%, and a 90% LTV 2-year fixed capital and interest reduced by 0.30% to 5.25%.
In its holiday let range, a 80% LTV 2-year fixed has been reduced by 0.11% to 5.69%.
This follows the society’s recent product refresh and rate reduction across its expat range.
Charlotte Grimshaw, head of intermediary relations and mortgage sales at Suffolk Building Society, said: “There have been lots of positive signals across the property market in recent weeks.
“We’re pleased to see confidence returning with would-be buyers and movers buoyed by reduced interest rates.
“As the Bank of England’s rate cut hit in early August, it’s also quite likely that we haven’t yet seen its full impact.
“After a busy summer of sport, the General Election and school holidays, routines will soon be reverting to normal and we may see further market momentum.”
Grimshaw added: “We’re pleased to be supporting brokers and their clients with a number of rate reductions across our range.
“We know that many people have delayed buying, selling or remortgaging their home, so we hope our reductions serve as an additional encouragement.
“However, we also understand that a great rate is as useful as a chocolate teapot if few people meet the criteria.
“As always, our reductions are underpinned by a manual underwriting approach. This open-door policy means that we welcome discussions with brokers, particularly in more complex cases, to help them access these rates for their clients.”
