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TSB ups rates; Suffolk BS slashes expat resi rates – round-up

  • 22/02/2024
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TSB ups rates; Suffolk BS slashes expat resi rates – round-up
TSB will increase select first-time buyer, home-mover and remortgage rates by up to 0.3 per cent from today.

The lender will up two-year fixed first-time buyer and home-mover products up to 90 per cent LTV by up to 0.30 per cent. Pricing begins from 4.69 per cent.

Five-year fixed first-time buyer and home-mover rates will increase by around 0.3 per cent. Rates start from 4.49 per cent.

Two-year fixed remortgage up to 75 per cent LTV will rise by 0.2 per cent along with five-year fixed remortgage rates.

For two-year fixed, rates start from 4.84 per cent and five-year fixed rates begin from 4.44 per cent.


Suffolk BS cuts expat residential mortgage rates

Suffolk Building Society has lowered expat residential mortgage rates by up to 0.55 per cent and added lower-rate high deals.

Its two-year fixed expat residential rate has fallen from 6.09 per cent to 5.59 per cent. It has a maximum loan size of £1m, and this product has a £199 application fee and a £999 completion fee.

The firm’s expat residential two-year fixed rate large loan has fallen to 5.59 per cent with a maximum loan of £2m. The application fee is £199 and the completion fee is 0.2 per cent of the loan amount.

Its two-year interest-only expat residential rate has decreased from 6.44 per cent to 5.89 per cent. The product has a maximum loan size of £500,000, an application fee of £199 and a completion fee of £999.

The deals are available up to 80 per cent loan to value (LTV) and overpayments of up to 50 per cent of the original loan amount.

The firm has brought out a two-year buy-to-let (BTL) fixed rate of 4.79 per cent and expat BTL two-year fixed rate of 5.29 per cent. It has a three per cent completion fee, which will help landlords up their maximum loan available when using the stressed interest coverage ratio.

The application fee is £199, overpayments are up to 50 per cent of the original loan amount and loans go up to 80 per cent LTV, with a maximum loan size of £1m.

Charlotte Grimshaw, head of mortgages at Suffolk Building Society, said: “We’re pleased to announce we’re reducing our rates across our expat ranges, further supporting the new currencies we’ve recently introduced for expat residential.

“While mortgage rates remain higher than previous years, we understand that achieving their desired loan amount has become an issue for many BTL landlords. By offering a lower initial rate with a higher fee, we’re providing an alternative option for those landlords who might prefer to pay a higher fee for a lower monthly mortgage payment.”

The change comes off the back of a number of criteria enhancements by the lender earlier this week.

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