The Suffolk brings back five-year residential and buy-to-let fixes

Published on

Suffolk Building Society is reintroducing four five-year fixed rate mortgage products after withdrawing them last month because of market volatility.

The products will be available from tomorrow, 30 April, for purchase and remortgage.

They include a five-year fixed rate residential mortgage at 5.75%, available up to 90% loan-to-value.

The mutual is also bringing back a five-year fixed rate buy-to-let mortgage at 5.79%, available up to 80% LTV, and a five-year fixed rate buy-to-let light refurb mortgage at 5.89%, also available up to 80% LTV.

A five-year fixed rate holiday let mortgage will be available at 5.85%, up to 80% LTV.

Each product carries a £199 application fee and a £999 completion fee.

Charlotte Grimshaw, head of mortgage intermediaries at Suffolk Building Society, said: “For many it’s a difficult time, financially. Two groups facing significant challenges are landlords and first-time buyers, so we’re glad to be providing more buy-to-let and high LTV options.

“By offering 5-year fixed rates, we’re providing an option of longer rate security, combined with improved affordability or rental coverage.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Remortgage searches rise 7% in July

Residential remortgage searches increased by 7% during July as purchase and buy-to-let activity weakened,...

LEASE launches lease extension cost tool

The Leasehold Advisory Service has launched a free online tool enabling leaseholders to check...

Vida mortgage lending more than doubles to £840m

Vida Group Holdings increased gross mortgage lending to £840m during the first half of...

Affordability blocking housing recovery

Improving confidence is encouraging buyers back into the housing market but affordability remains the...

Mortgage rate reversal wipes out July cuts

Average mortgage rates increased during July, reversing the reductions recorded a month earlier, according...

Latest publication

Other news

Remortgage searches rise 7% in July

Residential remortgage searches increased by 7% during July as purchase and buy-to-let activity weakened,...

LEASE launches lease extension cost tool

The Leasehold Advisory Service has launched a free online tool enabling leaseholders to check...

Vida mortgage lending more than doubles to £840m

Vida Group Holdings increased gross mortgage lending to £840m during the first half of...