The deal has a rate of 6.15 per cent and a maximum loan to value (LTV) of 80 per cent, a minimum loan size of £75,000 and maximum loan size of £1m.
It has an application fee of £199 and completion fee of £1,499.
The deal is available for purchase and remortgage for expat landlords.
The lender said the catalyst for the product was the government’s proposed requirement for all newly rented properties to have an EPC rating of C or above by 2025 and existing tenancies by 2028.
Suffolk Building Society said it hoped launching the deal would heighten awareness for the need for landlords to comply with the new legislation coming into place soon.
Charlotte Grimshaw, head of intermediary relations at Suffolk Building Society, said: “Expat landlords are likely to be less aware of the forthcoming changes than landlords who are based in the UK.
“We want to support expat landlords who are looking to purchase or remortgage a buy-to-let property with an EPC rating of A to C. This is ahead of the changes in legislation coming in 2025.”
She said the mutual was well known for its expat lending and pleased to offer a product that “ aligns with and takes future legislation into account”.
Grimshaw added: “Indeed, helping to provide safe homes for people throughout the UK is an objective of the society. We hope this product helps to support expat buy-to-let landlords with their purchase and remortgage of an energy efficient property, and that this, in turn, could help renters looking for similar homes.
“We will continue to offer other buy-to-let products for expat landlords whose properties aren’t A toC at present. We will also be launching other products in the future which will help support landlords wanting to improve their buy-to-let EPCs through home improvements.”
SBI UK relaunches BTL fixed rates
State Bank of India (SBI) UK is relaunching its fixed rate buy-to-let deals and has brought out deals at 50 per cent LTV.
The lender said the products “offer competitive deals” to individual and portfolio landlords, including expats.
In its standard range, two, three and five-year fixed rates are available with specialist, houses in multiple occupation and expat options. Rates begin from 3.89 per cent.
SBI UK also offers a green range, which starts from 50 per cent LTV, with three and five-year fixed rates available along with two and five-year trackers. There are also specialist fixed and tracker deals.
Pricing for this range starts from 5.2 per cent.
SBI UK’s chief business officer Abhishek Sahay said: “We are excited to reintroduce our fixed rate buy-to-let products, which will support landlords and the UK housing market during this pivotal time.
“We remain committed to the buy-to-let market and look forward to engaging with our intermediary partners. Our green range continues to support and reward energy-efficient homes and properties. The bank is proud to continue to play its part in incentivising reduction in carbon emissions. “
