Suffolk Building Society has cut rates across its expat mortgage range, with reductions of up to 16 basis points.
The refresh applies to 2 and 5-year fixed rate products in the expat residential, expat buy-to-let and expat holiday let categories. All 2-year fixes will now run until 30 November 2025.
Charlotte Grimshaw, 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.”
Alongside the expat refresh, the society has also reduced the rate on two standard buy-to-let products and two buy-to-let light refurbishment mortgages by up to 15 basis points. These 2-year fixes have also been given an extended end date, as has one additional holiday let product.
