Suffolk Building Society has extended the maximum loan size from £1m to £2m, across standard residential and expat residential commercial and industrial (C&I) products up to 80% loan-to-value (LTV).
The changes, effective today (3 July), include: ● 80% LTV residential two-year discount C&I ● 80% LTV residential two-year fixed C&I ● 80% LTV residential five-year fixed C&I ● Expat 80% LTV residential two-year discount C&I ● Expat 80% LTV residential two-year fixed C&I ● Expat 80% LTV residential five-year fixed C&I
This replaces the two specific large loan mortgage products for residential and expat residential, which were introduced in January 2024.
Brokers’ clients will benefit from lower fees on any borrowing over £1m as a result of this change.
Suffolk Building Society head of intermediary relations and mortgage sales Charlotte Grimshaw says: “We know brokers love our common sense approach to lending, and we appreciate that they’re busy people who want to concentrate on helping their clients, so we’re keeping things as simple as possible to make their lives easier.”
