Suffolk Building Society has announced rate reductions of up to 20bps across 10 fixed rate products, including its expat range.
The cuts are to selected residential, buy-to-let, expat, and holiday let products, covering C&I and interest-only.
In its residential range, expat products have reduced by 0.20%. Five-year fixed rates now start at 5.25% at 80% LTV and 5.55% at 90% LTV.
A standard interest-only residential five-year fix at 80% LTV has reduced by 11bps to 5.29%.
In Suffolk's buy-to-let range, an 80% LTV expat product has reduced by 20bps to 5.45%.
Standard buy-to-let rates are down by up to 0.11%, with a two-year fixed rate reducing to 5.19% and a five-year fix decreasing to 5.25%.
Buy-to-let light refurb products at 80% LTV now start from 5.29% for a two-year fix and 5.35% for a five-year fix.
A five-year holiday let product at 80% LTV has also reduced to 5.29%.
In addition to the rate reductions, two-year fixed rate expat and holiday let products now have extended end dates to ensure customers benefit from a full two-year fixed period.
Charlotte Grimshaw, head of intermediaries at Suffolk Building Society, said: "We’re keen to pass on the benefits of the recently lowered swap rates to brokers and customers. There have been multiple reports of potential buyers delaying decisions until after the Budget, and with existing homeowners expressing trepidation over tax increases, these reductions will hopefully be welcome news.
“It improves our overall proposition for those seeking expat and holiday let products for their clients. These have always been important niches for us as a Society, and we remain committed to providing solutions that work for those who need them.
“Our criteria and manual underwriting approach make it possible to find a mortgage to suit even the most unusual of circumstances, and with these latest reductions, we continue to be a good solution for those who don’t fit with the high street.”
