Suffolk Building Society has launched a new shared ownership 95% LTV five-year fixed mortgage product.
It has also repriced its residential 95% LTV five-year fixed (C&I) and shared ownership 95% LTV two-year fixed products.
In addition, the Society has lowered the rate on its 80% LTV holiday let five-year fixed mortgage product and reduced its 80% LTV expat buy-to-let five-year product by 29bps.
The following are now available:
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95% LTV shared ownership five-year fixed at 5.25% for 60 months.
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95% LTV residential five-year fixed (C&I) reduced by 10bps to 5.39% (previously 5.49%) for 60 months.
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95% LTV shared ownership two-year fixed cut by 15bps to 5.60% (previously 5.75%) until 31 October 2026.
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80% LTV holiday let five-year fixed reduced by 10bps to 5.69% (previously 5.79%) for 60 months.
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80% LTV expat buy-to-let five-year fixed cut by 29bps to 5.80% (previously 6.09%) for 60 months.
Charlotte Grimshaw, head of intermediary relations and mortgage sales at Suffolk Building Society said: “In the current market, affordability can be a real barrier to many first time buyers. Having a five-year fixed shared ownership option available helps to provide not just further peace of mind on their mortgage payments, but also helps with affordability. We’re here to support first time buyers as they embark on the journey to owning their own home.
“By also significantly reducing our expat buy-to-let five-year product, we’re further supporting British expats living and working abroad in this niche area, whether they’re looking to invest in a property back home for rental income, or already have a property they let out.
“Whatever a customer’s borrowing requirements may be, our team of manual underwriters assesses each case individually. Further supported by our helpdesk and BDMs, the Society has extensive expertise in supporting brokers through the expat, first time buyer, and holiday let borrowing process.”