Suffolk Building Society has cut rates on its two-year discount and two- and five-year fixed rate expat holiday let mortgages by up to 20 basis points.

The society has also increased its maximum loan size to £650,000 for 90% loan-to-value (LTV) residential mortgages, and £1m for 80% LTV interest only UK and expat residential products.

The lender’s cuts will be available for both purchase and remortgage.

The products include the 80% LTV five-year fixed which has been lowered by 20bps to 5.89% with a maximum loan size of £1m while the 80% LTV two-year discount has been reduced 15bps to 5.79% with a maximum loan size of £1m.

In addition, the 80% LTV two-year fixed has been cut by 10bps to 5.99% with a maximum loan size of £1m.

The society says it welcomes applications from most countries (except UN-Sanctioned ones) and will also consider joint applications where only one applicant holds a British passport.

Suffolk Building Society head of intermediary relations and mortgage sales Charlotte Grimshaw says: “By refreshing our rates, we aim to provide competitive and flexible options catering to the needs of expat borrowers, around the world, ensuring they have the support and financial products to make the most of investment opportunities.”