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Suffolk BS relaunches at 80 per cent LTV and ups maximum loan sizes

Shekina Tuahene
Written By:
Posted:
August 31, 2023
Updated:
August 31, 2023

Suffolk Building Society has resumed lending at loan to value (LTV) to 80 per cent after a temporary withdrawal from this level.

This includes a two-year fix for purchase and remortgage with a rate of 6.35 per cent as well as a variable rate option at 5.49 per cent. 

There is also a two-year discount rate priced at 5.79 per cent and an interest-only option with a rate of 6.65 per cent. 

Additionally, there are expat, self-build, holiday let and buy to let options. 

The mutual has also raised its maximum loan size from £500,000 to £1m, with the exception of expat holiday let products which have been increased to £750,000. 

To secure outgoing products, intermediaries should submit a decision in principle (DIP) by close of business on 4 September. Full mortgage applications must be submitted by 11 September. 

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Andrew Sadler (pictured), key account manager at Suffolk Building Society, said: “We’re thrilled to be back in the 80 per cent LTV market, with an increased maximum loan size. 

“Underwriting and progressing cases within our target timeframe is key and we’re now looking forward to helping brokers to place more cases for their customers following this relaunch.”