Suffolk Building Society has introduced two new expat mortgages – one for residential use and one for buy-to-let (BTL) with a fixed rate of 5.49%.
The rate is available for purchases and remortgages until 30th June 2028.
The maximum loan-to-value (LTV) is set at 80%, with a maximum loan amount of £2m for the residential product and £1m for the BTL product.
Charlotte Grimshaw, head of intermediaries at Suffolk Building Society, said: “We know that many customers are looking for financial stability and these products do just that, without tying borrowers in for longer than they may feel comfortable.
“Expectations are that rates will begin to fall over the next couple of years so borrowers may feel that a 5-year fix is too long, and a 2-year deal isn’t quite long enough.
“We believe our 3-year expat deals are in the Goldilocks zone, being ‘just right’ for this type of borrower.”
