Suffolk Building Society has reduced rates by 26 basis points and 25bps respectively, on selected holiday let and expat holiday let mortgages, effective 15 January.

The holiday let reductions include the 80% loan-to-value (LTV) two-year fixed, which has been cut by 26bps to 5.19% and the 80% LTV expat holiday let two-year fixed, which has been lowered by 25bps to 5.64%.

The following rate reductions on expat residential products are also effective 15 January, with extended end dates.

The society’s expat residential reductions include the 80% LTV expat residential two-year fixed C&I, which has been cut by 10bps to 5.19%.

In addition, the 80% LTV expat residential two-year fixed interest only has been reduced by 10bps to 5.39% and the 90% LTV residential two-year fixed has been lowered by 10bps to 5.49%.

In addition to these rate cuts, the society’s standard variable rate (SVR) will be reduced by the full 25bps following the Bank of England’s decision to reduce the base rate on 18 December 2025.

The new SVR comes into effect on 1 February.

Suffolk Building Society head of intermediaries Charlotte Grimshaw says: “Last week we announced significant criteria enhancements for brokers and their customers, so it’s great to be able to also move rates and SVR in the right direction.”

“There are multiple reasons expats may choose to own a property in the UK. An expat holiday let can be the best of both worlds – it’s a source of income, while also offering a flexible UK base, for up to 60 days, for expats when they’re in the country.”