On the remortgage exclusive side, the products include a two-year fixed rate with £995 fee which will be reduced by up to 0.29 per cent, starting from 4.64 per cent.
Five-year fixed rates with £995 fee will fall by up to 0.54 per cent, beginning from 4.19 per cent.
Five-year fixed rate fee-savers will be lowered by up to 0.54 per cent, starting from 4.39 per cent.
Within its purchase and remortgage £1m-plus exclusives, two and five-year fixed rates at 75 per cent loan to value (LTV) will decrease by up to 0.4 per cent and are priced from 4.37 per cent.
In its buy-to-let exclusive range, two-year fixed rates with £2,195 fee will be reduced by up to 0.32 per cent, starting from 4.51 per cent. Five-year fixed rates with the same fee will be cut by 0.29 per cent and will be priced from 4.2 per cent.
Two and five-year fixed rates with one per cent fee will be reduced by up to 0.65 per cent and 0.3 per cent apiece, starting from 4.64 per cent and 4.34 per cent respectively.
Two and five-year fixed rates with a three per cent fee will go down by up to 0.45 per cent and 0.37 per cent and are priced from 3.87 per cent and 3.97 per cent respectively.
Suffolk BS launches resi discount deal and reprices holiday lets
Suffolk Building Society has launched a standard residential mortgage product with no early repayment charge (ERC) for a “limited time”.
The lender said that the product could appeal to borrowers reluctant to tie into a mortgage deal ahead of potential base rate reductions.
The two-year 80 per cent LTV discount deal is 5.69 per cent. It has a minimum loan size of £1m, application fee of £199 and completion fee of £999.
After 24 months, the product has a revert-to-rate for the society’s standard variable rate (SVR) minus 1.74 per cent.
The society is also cutting its two and five-year fixed rate holiday let mortgage deals by 0.2 per cent to 6.09 per cent and 5.79 per cent respectively.
Andrew Sadler, key account manager, Suffolk Building Society said: “Many homeowners will be taking stock of the UK’s housing market at present – trying to determine what might happen to both house prices and interest rates. We’re pleased to be offering this new product which allows borrowers additional flexibility.
“Although interest rates have come down from their peak, we appreciate that it is still an uncertain time for brokers and their clients. We hope our new residential mortgage with no ERC will be welcomed by those who, understandably, are not ready to lock into a fixed rate right now.”
