Suffolk Building Society has launched two new expat mortgages – one residential (capital & interest) and one buy to let (BTL).

Both are three-year deals with a fixed rate of 5.49%. This rate can be locked in for purchases and remortgages until 30 June 2028. The maximum loan to value (LTV) is 80%, and the maximum loan amount is £2m for the expat residential product, and £1m for expat BTL.

Commenting on the launch Suffolk BS, Head of Intermediaries Charlotte Grimshaw  said: “We know that many customers are looking for financial stability and these products do just that, without tying borrowers in for longer than they may feel comfortable.

“Expectations are that rates will begin to fall over the next couple of years so borrowers may feel that a five -year fix is too long, and a 2-year deal isn’t quite long enough. We believe our 3-year expat deals are in the Goldilocks zone, being ‘just right’ for this type of borrower.”

Market Harborough Building Society has made a series of enhancements to its residential and let variable and five-year fixed rate products.

It has launched a new two-year variable rate product range across its residential and let solutions, with an ERC of 2% in year one and 1% in year two. It has also enhanced its five-year fixed rate products with updated ERCs