Suffolk Building Society has introduced a residential 3-year product, fixed at 5.95% until 31st December 2026.
The deal is available for first-time buyers and homeowners with an 80% loan-to-value (LTV).
It will revert to standard variable rate (SVR) minus 1.74% until 31st March 2029, with a 3% floor.
For borrowers with a 90% LTV, Suffolk launched a 3-year fixed rate product at 6.29% for purchases and remortgages.
Both products are available for capital and interest repayment and have a minimum loan size of £75,000.
The 80% LTV deal has a maximum loan size of £1m, with £500,000 being the upper limit for the 90% LTV deal.
Both have an application fee of £199, and a completion fee of £999.
The society also lowered the rates on its existing range of 2-year fixed rate residential, buy-to-let, holiday let and expat – both residential and buy-to-let – by up to 24bps.
Andrew Sadler, key account manager at Suffolk Building Society, said: “As the market begins to look a little more competitive, we’re delighted to add these three-year fixed rate products to our range, giving intermediaries and their clients more choice.
“It also offers borrowers more certainty over a longer period of time.”
