On the expat side, rates will fall by up to 0.16% across its expat residential, expat BTL and expat holiday let ranges.
The firm added that its two standard BTL products and two BTL light refurb mortgages will be cut by up to 0.15%.
Charlotte Grimshaw, head of intermediaries at Suffolk Building Society, said: “We’ve been in the expat market for almost two decades now and have received applications from British nationals living in 92 countries across the world.
“We’ve become one of the go-to lenders for expat, as we support brokers with the heavy lifting to help get their overseas clients’ applications across the line. We understand that this is not always an easy task, with extra layers of complexity involved with expats – whether foreign currency income or deposits raised outside of the UK.
“We hope these changes to our expat range land well with brokers. We know that every little helps with affordability and rental calculations at the moment and a reduction in rates goes some way to support this. With 77,000 British citizens emigrating in 2024, it’s certainly a lucrative market for intermediaries.”
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Suffolk Building Society recently announced that it would offer up to 5.49 times applicants’ income for those with a rental track record to support first-time buyers, and made a raft of other criteria changes.
