Suffolk reintroduces BTL and resi 5-year fixes

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Suffolk Building Society will reintroduce four five-year fixed products, effective tomorrow.

The products were withdrawn last month due to market volatility.

The lender’s five-year fixed rate residential mortgage is available at 5.75%, up to 90% loan-to-value (LTV) and the five-year fixed rate buy-to-let (BTL) mortgage is available at 5.79%, up to 80% LTV.

In addition, Suffolk’s five-year fixed rate BTL light refurb mortgage is available at 5.89%, up to 80% LTV and the five-year fixed rate holiday let mortgage is available at 5.85%, up to 80% LTV.

These products are available for purchase or remortgage and come with a £199 application fee, and £999 completion fee.

Suffolk Building Society head of mortgage intermediaries Charlotte Grimshaw says: “For many it’s a difficult time, financially. Two groups facing significant challenges are landlords and first-time buyers, so we’re glad to be providing more buy to let and high LTV options. By offering 5-year fixed rates, we’re providing an option of longer rate security, combined with improved affordability or rental coverage.”


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