NEWS: Suffolk Building Society Slashes Expat Buy-to-Let Mortgage Rate

Suffolk Building Society has announced a significant rate cut on its popular expat buy-to-let mortgage product. The 80% LTV five-year fixed rate has been reduced by 29 basis points to 5.80% for 60 months.

This move signals potential relief for expat property investors in the UK market.

Luther Yeates, Head of Mortgages at UK Expat Mortgage, commented on the development:

“It’s nice to see expat rates start to come down in light of a potential base rate reduction in August from the Bank of England. Suffolk’s 5-year buy-to-let fixed product is already popular, and this makes the market more competitive. We’ll be watching for other lenders to react.

The extra good news is the lender stress tests are based on the fixed rate. So, more competitive rates means that there are more solutions available for those who have lower-yielding property (i.e., former residential homes, london property, etc.).”

The rate cut is expected to enhance the attractiveness of Suffolk Building Society’s offering in the expat mortgage sector. As the market anticipates possible further reductions in interest rates, this move could herald a trend towards more favourable terms for expat investors in UK property.

For more information on this product or other expat mortgage options, please contact us.

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