Suffolk BS cuts residential and expat two-year fixes

Suffolk Building Society is reducing rates on its two-year fixed rate residential and expat residential mortgage products.

The cuts of up to 24bps are effective from today and include seven products in total, all of which are available to applicants borrowing in - and into - retirement. There is no maximum age at application or at the end of the mortgage term.

In Suffolk's residential range, an 80% LTV two-year fixed rate is down by 24bps to 4.85% and an interest-only product has reduced by 20bps to 5.15%.

A 90% LTV two-year fix is down by 20bps to 5.15% and a 95% LTV product has reduced by 19bps to 5.35%.

Across the Society's expat residential range, 80% LTV two-year fixes are down by 20bps to 5.39% or 5.59% interest-only, while a 90% LTV two-year fix has reduced to 5.70%.

Charlotte Grimshaw (pictured), head of intermediaries at Suffolk Building Society, said: “It’s great to take advantage of the base rate cut and lower swap rates to reprice down and pass on the benefits to borrowers.

“It’s especially pleasing to offer these lower rates to brokers with later life clients, those with complex income, or minor credit blips, as this is a large part of our UK residential lending portfolio.”