The new 5-year fixed rate expat BTL mortgage is available at 6.39%. This maximum 80% LTV deal has a minimum loan size of £75k, a maximum loan size of £1m, an application fee of £199, and a completion fee of £1,499.
For self build borrowers, the lender has introduced a new 2-year discount at 6.29% (SVR* minus 2.40%) at a loan size of £1m-£2m. This is a 70% maximum LTV deal with an application fee of £199 and a completion fee of 0.15% of the total loan amount. After the initial period, this product has a revert-to rate of the Society’s SVR* minus 0.50% (with a 3% floor) for 36 months.
Andrew Sadler, Key Account Manager, Suffolk Building Society said:
“The introduction of a 5-year expat BTL product will widen our appeal to expats, providing a longer-term fixed rate option to this target market, supporting those looking for rate security over an extended period.
“The return of the self build large loan product will enable us to support customers with larger self build or renovation projects. A long-time champion of this type of borrowing, we waive the Early Repayment Charge (ERC) for all self builders and renovators who switch to a follow-on product. There is also a lower interest rate follow-on product available to those whose finished build, or renovation, achieves Energy Performance Certificate (EPC) A or B.
“Both of these products are competitive, allowing us to offer more choice to brokers and borrowers in these niche markets.”
