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

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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.”

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