Suffolk Building Society has reduced rates on its buy-to-let (BTL) and holiday let mortgages, aiming to ease affordability pressures on landlords.
The society has cut up to 0.11% from its 80% loan-to-value (LTV) 2-year fixed rate products.
Charlotte Grimshaw, head of intermediary relations and mortgage sales at Suffolk Building Society, said: “Buy-to-let landlords have faced financial pressure from all directions in recent years, be it changes to the tax regime, or rising interest rates.
“One challenge that persists for them is passing Interest Coverage Ratio (ICR) stress testing.
“By lowering rates across our popular 2-year buy to let and holiday let products, we can help landlords improve their borrowing ability, without having to take a 5-year fixed rate.
“We recognise their crucial role in the property sector, whether they have a holiday let, UK buy to let, or an expat buy to let mortgage.”
Grimshaw added: “Expat buy-to-let is our second largest lending area, with our combination of flexible criteria and manual underwriting making us a go-to home for so many expat cases.
“We’re keen to continue supporting brokers with clients in this complex market, and we understand the fine balancing act they face, so we’re pleased to be reducing rates on this range.”
From 6th May 2025, the following rates will apply for both purchase and remortgage: the 80% LTV expat BTL 2-year fixed capital and interest rate will drop by 0.11% to 5.59%, previously 5.70%.
The 80% LTV BTL 2-year fixed capital and interest rate will be reduced by 0.10% to 5.45%, previously 5.55%.
The 80% LTV BTL light refurb 2-year fixed capital and interest rate will go down by 0.10% to 5.55%, previously 5.65%.
The 80% LTV holiday let 2-year fixed capital and interest rate will drop by 0.10% to 5.45%, previously 5.55%.
Meanwhile, the 80% LTV expat holiday let 2-year fixed rate will remain at 5.89%.
All of these rates will be extended until 31st August 2027.
