Suffolk Building Society is reducing two and five-year fixed rate products across its expat range by up to 0.16%, covering residential, buy-to-let and holiday let products.
In addition, the Society’s two-year fixed rate products will be set up with an extended end date of 30th November.
As part of the refresh, Suffolk is also reducing the rate on two standard buy-to-let products and two buy-to-let light refurb mortgages by up to 15bps. Both two-year fixes will be launched with an extended end date, as will one additional holiday let product.
Charlotte Grimshaw (pictured), head of intermediaries at Suffolk Building Society, said: “We’ve been in the expat market for almost two decades now and have received applications from British Nationals living in 92 countries across the world. We’ve become one of the go-to lenders for expat as we support brokers with the heavy-lifting to help get their overseas clients’ applications across the line. We understand that this is not always an easy task, with extra layers of complexity involved with expats – whether foreign currency income or deposits raised outside of the UK.
“We hope these changes to our expat range land well with brokers. We know that every little helps with affordability and rental calculations at the moment and a reduction in rates goes some way to support this. With 77,000 British citizens emigrating in 2024, it's certainly a lucrative market for intermediaries!”
