Reductions apply to deals at 80% loan to value (LTV) and will be effective from 11 February.
This includes cuts to the mutual’s two- and five-year fixed expat BTL mortgages, which have been lowered by 0.15%, while its two- and five-year fixed expat holiday let will be reduced by up to 0.19%.
Suffolk Building Society’s five-year standard and light refurb BTL products will both see cuts of 0.26%, while the two-year fixed standard BTL product will be reduced by 0.14%.
Elsewhere, the two- and five-year fixed holiday let products will be reduced by 0.1% and 0.14% respectively.
Charlotte Grimshaw, head of intermediaries at Suffolk Building Society, said: “Landlords could do with some good news right now. With taxes on rental income due to change in 2027, and the changes brought about by the Renters’ Right Act, landlords continue to face challenges and new normals.
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“Cutting our BTL rates is a practical way to offer support where we can.”
She added: “However, a great rate doesn’t stack up unless it’s backed by great criteria. So, alongside these reductions, we’re maintaining our flexible criteria to support borrowers who need a bit more headroom on some of the nuanced parts of their circumstances, whether they’re living abroad, or looking for a regulated BTL for a family member.”
Last month, the firm lowered holiday let and expat rates.
Clydesdale Bank raises mortgage rates
Clydesdale Bank has increased a number of mortgage rates, effective from 12 February.
Across its core residential purchase and remortgage offering, selected two- and five-year fixes at 65-85% LTV will go up by 0.1%, and selected two- and five-year fixed rates at 90-95% LTV will be increased by up to 0.19%.
Similar increases will be made to selected corresponding core residential product transfer options.
Clydesdale Bank’s two- and five-year fixed residential rates for professional borrowers will be increased by as much as 0.28% at 65-95% LTV.
For newly qualified professional borrowers, rates will be increased by up to 0.27% on corresponding products.
Further, Clydesdale Bank will make increases of up to 0.15% to selected two- and five-year fixes at 85-95% LTV across its purchase broker exclusive products.
