With immediate effect, Suffolk Building Society has extended its maximum loan size from £1m to £2m, across all standard residential and expat residential C&I products up to 80% LTV.
This replaces the two large loan mortgage products for residential and expat residential, which were introduced back in January 2024.
Brokers’ clients will benefit from lower fees on any borrowing over £1m as a result of this change.
By increasing the borrowing limits across these two product types, the society said it hopes to not only provide borrowers with more choice, but also simplify the range for brokers.
Charlotte Grimshaw, head of intermediary relations and mortgage sales at Suffolk Building Society, said: “We know brokers love our common sense approach to lending, and we appreciate that they’re busy people who want to concentrate on helping their clients, so we’re keeping things as simple as possible to make their lives easier!
“We also understand that house prices are rising and want to widen the product choice for this loan type.
“Within the expat market in particular, choice is often limited, especially in recent years, so we’re always striving for ways to better support this underserved niche.”
