The mutual has reduced residential rates by as much as 0.24% and expat residential rates by up to 0.2%. This includes seven products that are available to applicants borrowing in and into retirement.
From 19 May, the residential two-year fix at 80% loan to value (LTV) has been reduced from 5.09% to 4.85% and the interest-only product has been reduced from 5.35% to 5.15%.
At 90% LTV, the two-year fix has been cut from 5.35% to 5.15% and the 95% LTV has been lowered from 5.54% to 5.35%.
Across its expat residential range, the 80% LTV capital and interest product has been reduced by 0.2% to 5.39%, while the interest-only option has been reduced by the same amount to 5.79%.
At 90% LTV, the two-year fix has been reduced from 5.9% to 5.7%.
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Charlotte Grimshaw, head of intermediaries at Suffolk Building Society, said: “It’s great to take advantage of the base rate cut and lower swap rates to reprice down and pass on the benefits to borrowers.
“It’s especially pleasing to offer these lower rates to brokers with later life clients, those with complex income, or minor credit blips, as this is a large part of our UK residential lending portfolio.”
