At 80% loan to value (LTV), the lender has cut its two-year fixed rate by 26 basis points to 5.19%. The expat equivalent holiday let deal has been cut by 25 basis points to 5.64%.
Cuts have also been made to a selection of fixed rate expat residential mortgages.
At 80% LTV, the two year fixed rate has been reduced by 10 basis points to 5.19%, while the interest-only equivalent has been reduced from 5.49% to 5.39%.
The two-year fixed rate at 90% LTV has been reduced from 5.59% to 5.49%.
Charlotte Grimshaw, head of intermediaries at Suffolk Building Society, said: “Last week, we announced significant criteria enhancements for brokers and their customers, so it’s great to be able to also move rates and SVR in the right direction.
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“There are multiple reasons expats may choose to own a property in the UK. An expat holiday let can be the best of both worlds – it’s a source of income, while also offering a flexible UK base, for up to 60 days, for expats when they’re in the country.”
The main rate cuts will come into effect on 15 January. The society will cut its SVR by 25 basis points on 1 February to 7.49%.
Earlier this month, Suffolk Building Society launched a self-build mortgage for expat borrowers while expanding its criteria for expats and foreign nationals.
