"We have amassed enough experience during the last few years to now be in a position where we can increase the maximum loan size for expat holiday let in line with other similar products"
- Charlotte Grimshaw, head of intermediary relations and mortgage sales
Suffolk Building Society is cutting rates on its two-year discount, two-year fixed and five-year fixed rate expat holiday let mortgages by up to 20bps, while also increasing the maximum loan size across these products to £1m.
At 80% LTV, a two-year discount product is now available at 5.79%, a two-year fix at 5.99%, and a five-year fix at 5.89%.
The Society welcomes applications from most countries (except UN-sanctioned ones) and will also consider joint applications where only one applicant holds a British passport. Deposits built up in the country of residence are accepted, as are all currencies.
In addition, the Society has also increased its maximum loan size to £650,000 for 90% LTV residential mortgages and £1m for 80% LTV interest-only UK and expat residential products.
Charlotte Grimshaw, head of intermediary relations and mortgage sales at Suffolk Building Society, said: “Expat lending is one of our specialist niches and so we are committed to meeting the growing demand from both brokers and their clients in this market. By refreshing our rates, we aim to provide competitive and flexible options catering to the needs of expat borrowers, around the world, ensuring they have the support and financial products to make the most of investment opportunities.
“We have amassed enough experience during the last few years to now be in a position where we can increase the maximum loan size for expat holiday let in line with other similar products such as standard holiday let, standard buy-to-let and expat buy-to-let products.”
