Suffolk Building Society has announced rate reductions across its buy to let and holiday let mortgage offerings, aiming to ease affordability pressures for landlords.
The Society is cutting up to 11 basis points from its 80% LTV 2-Year Fixed Rate products. The move is designed to support landlords facing ongoing financial challenges, particularly as they navigate tighter affordability assessments and regulatory changes.
Charlotte Grimshaw, Head of Intermediary Relations and Mortgage Sales at Suffolk Building Society, commented: “Buy to Let landlords have faced financial pressure from all directions in recent years—ranging from changes to the tax regime to rising interest rates. One challenge that continues to persist is meeting Interest Coverage Ratio (ICR) stress testing requirements.”
“By lowering rates across our popular 2-year buy to let and holiday let products, we can help landlords improve their borrowing ability, without having to take a 5-year fixed rate. We recognise their crucial role in the property sector, whether they have a holiday let, UK buy to let, or an expat buy to let mortgage.
“Expat buy to let is our second largest lending area, with our combination of flexible criteria and manual underwriting making us a go-to home for so many expat cases. We’re keen to continue supporting brokers with clients in this complex market, and we understand the fine balancing act they face, so we’re pleased to be reducing rates on this range.”
The following will be available for both purchase and remortgage from Tuesday 6 May 2025:
● 80% LTV Expat BTL 2 Year Fixed capital and interest has been reduced by 11bps to 5.59% (previously 5.70%) now extended until 31 August 2027.
● 80% LTV BTL 2 Year Fixed capital and interest has been reduced by 10bps to 5.45% (previously 5.55%) now extended until 31 August 2027.
● 80% LTV BTL Light Refurb 2 Year Fixed capital and interest has been reduced by 10bps to 5.55% (previously 5.65%) now extended until 31 August 2027.
● 80% LTV Holiday Let 2 Year Fixed capital and interest has been reduced by 10bps to 5.45% (previously 5.55%) now extended until 31 August 2027.
● 80% LTV Expat Holiday Let 2 Year Fixed has stayed at a rate of 5.89% but has been extended until 31 August 2027.
